Banks targeting of their customers 'shows a lack of grip on reality' says AM.

1.33.41pm GMT Thu 1st Feb 2007

Peter Black at Swansea CAB

Commenting on recent revelations from 'Which?' that banks have been closing, or threatening to close, the accounts of customers who have tried to claim back 'unfair' bank charges the Welsh Liberal Democrat Assembly Member for South Wales West, Peter Black, said:

"A number of banks have been caught out penalising their customers in this way," said Mr. Black. "In my view they are demonstrating a lack of grip on reality. The Office of Fair Trading has already capped late payment fees on credit cards at £12, and it is likely that they will force the banks to scale back their overdraft charges too. Bully-boy tactics like threatening to close accounts and passing accounts to debt collectors simply show the extent of the contempt they really have for us as customers."

"Rather than fighting with their customers, the High Street banks would be better advised to give way voluntarily and reduce their charges to a reasonable level. What they should try and remember is that the customers who complain are the tip of the iceberg, and many others are deeply dissatisfied."