The Socialist 22 July 2008 Stop The Gas Price Rip-Off Car taxes add to inflation misery Build further action after successful council strike Argos workers strike against insulting pay offer Punishing the jobless for being jobless Say no to military attack on Iran Political impasse in the Kurdish region of Iraq Pakistan: 50,000 textile workers strike |
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Home | The Socialist 22 July 2008 | Join the Socialist Party Bankers' dirty tricks?AFTER THE Office of Fair Trading (OFT) criticised excessive penalty and overdraft charges that make banks over £8.3 billion yearly, the British Bankers Association, representing the major banks, threatened to introduce fees for current account services. Banking charges attracted scrutiny recently with revelations that customers paid on average £152 in charges, with over four million people paying over £200 in overdraft charges a year. So when the OFT threatens this, what do the banks do? They draw up a list of currently free services and claim they will be 'forced' to introduce charges if the overdraft cash-cow dries up. These include potential £5-£20 a month charges for a current account, and paying for ATM use, for direct debits and bank statements. But they shouldn't charge for these. Most banks invest money from current accounts at high rates of interest, earning themselves a profit of £4.1 billion a year. End this big business robbery of people's money. Take the major banks into public ownership with compensation only paid on the basis of genuine need. Run the banks in the interest of the public and end charges. Iain DaltonIn this issue
Local government strike
Socialist Party workplace news
Socialist Party news and analysis
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