The Office of Fair Trading (OFT) has announced that it will not continue its investigation into banks' unarranged overdraft charging terms under the Unfair Terms in Consumer Contract Regulations 1999.

However, the OFT continues to have significant concerns about the operation of the market for personal current accounts. The OFT is considering a number of options to secure the changes it wants to see and aims to report on progress by the end of March 2010.

View OFT announces decision and next steps on bank charges, 22 December 2009