Lloyds TSB lands charges blow

A change of fortune this week in the ongoing ‘David and Goliath' struggle over bank charges. The little man, after accurately slinging tens of thousands of pebbles, has finally had a rock chucked back on target - Lloyds TSB has become the first bank to successfully defend a case in which a customer tried to sue over account fees.

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Last Updated: 06 Nov 2012
You'd be forgiven for thinking it only a matter of time before the big banks' armies of lawyers started flexing their legal muscle. In fact, it turns out Lloyds TSB knew nothing of the judgment until informed by the media. The bank's lawyers didn't even show up to the hearing, which suggests that it was simply a case that slipped through the net, rather than a deliberate policy to start kicking some butt. Luckily for Lloyds, it won.

And luckily for all the customers who are still chasing a refund, this case was in a district court. Consequently it hasn't set a legal precedent in the banks' favour. Still, should the prosecution decide to appeal the case will head to the high court, where things could start to get interesting. Better get that appeal in now…

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