1 December 2006
Consumers and action groups are marching outside the Office of Fair Trading's (OFT's) Fleetbank House at 14:00 GMT today to demonstrate their anger at unfair fee charges for credit cards, Business Credit Management reports.
Protestors from consumer activists at PenaltyCharges.co.uk and IVA.co.uk will join the Consumer Action Group in the peaceful rally to appeal to the OFT and the government to take action against the banks who have unlawfully penalised their customers.
In April the OFT declared that banks could only charge a maximum of £12 for default credit card fees, after its research discovered that some lenders charged as much as £30.
The OFT's statement fell short of calling for legal action against lenders who refused to comply with their proposals, thereby allowing banks and other providers to continue to overcharge consumers without fear of punishment.
Stephen Hone, spokesperson for IVA.co.uk and director of PenaltyCharges.co.uk, said: "We are protesting because the OFT is not ensuring that consumers are able to reclaim these unfair bank charges back as required by law. This failure is leaving hundreds of thousands of people in unnecessary financial difficulty at Christmas and throughout the year."
He also commented that many consumers were unaware of their right to claim back unfair charges and that was what spurred him to set up the Consumer Action Group, which so far has helped thousands of people recover millions of pounds in charges.
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