Installment Loans News Break: Banks challenge OFT overdraft ruling

Eight high street banks are today turning to the High Court in a bid to overturn a ruling on bank overdraft charges.

Your Installment Loans News Source Quoted With Edits From: Banks challenge OFT overdraft ruling (ShareCast via Yahoo! UK & Ireland Finance)

Are Overdraft Charges Fair?

Seriously? These English banks are up in arms because there was a ruling that allows the Office of Fair Trading to decide whether overdraft charges for customers who overdraw their accounts are fair? What do you have to hide, you High Street high rollers?

And who are these wailing walls of wealth? Why, that would be Abbey, Barclays, Clydesdale, Halifax Bank of Scotland, HSBC, Lloyds TSB, Royal Bank of Scotland and Nationwide Building Society. Take a look at each of them and know the face of greed. Their overdraft protection blows bad credit installment loans away when it comes to expensive ways to make budget in an emergency.

That’s My Profit Margin!

Those are my euros!

As I see it, these institutions do not want to give up the reins to any other agency strictly because they don’t want any outside agency to impinge upon their profit margin!

Considering how much profit they’re taking in due to overdraft protection fees each year – £2.5 billion! – it’s no wonder they’re running scared. Ripping off consumers will be recognized and should be eliminated.

Consumers should know that installment loans are available, and that they offer both the flexibility and lower cost that overdraft protection can’t match – in England, the United States, Antarctica… anywhere.