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Supreme Court finds for banks in overdraft charges litigation

• Herbert Smith Freehills LLP
• -
• United Kingdom
• -
• December 1 2009

In a judgment handed down on 25 November 2009, the Supreme Court overturned earlier rulings of the High Court and the Court of Appeal that would have allowed the Office of Fair Trading (OFT) to investigate the fairness of charges levied by banks for unauthorised overdrafts and other related charges under Regulation 6(2) of the Unfair Terms in Consumer Contracts Regulations 1999 (the Regulations