Are you protected if your airline goes bust?

Over the past couple of years the news has been filled with stories about airlines and holiday firms going bust, and whereas in the past many people would simply book the cheapest airline or holiday it has now become necessary to consider whether the airline or holiday company will survive as long as your holiday. Read more

Tags: travel insurance, Aviation in the United Kingdom, airline, airline failure, travel industry, airline going bust

Consumer protection laws could fail to protect travellers

Over the past couple of years many people that have booked flights and holidays have been shocked to hear that the holiday firm or airline that they booked through has gone bust, leaving them wondering whether they are entitled to a refund in addition to ruining their holiday plans. Read more

Tags: couple, travel insurance, firm goes bust, bust, Package holiday, Brits, consumer protection, travel

Consumer White Paper – Protection For All Consumers

The consumer White Paper, which outlined proposals to but a stop to unscrupulous lending by credit card companies, also contained measure to strengthen the rights of ALL consumers- those who feel ripped-off or conned. Read more

Tags: MP Kevin Brennan, Credit card, Trading Standards Institute, consumer protection, paper, better deal, rogue traders, cannot

Tougher Regulation For Banks – More Protection For Consumers

“We need a change of culture in the banks and their boardrooms, with pay practices that are focused on long-term stability, and not on short-term profit.”

These were the words of Alistair Darling today when he outlined his White paper on banking. The proposed measures are aimed at preventing a repeat of the banking crisis which led Britain into its worst ever post-war recession. Read more

Tags: consumer protection, Alistair Darling, banks, bank of england, bank regulation

OFT sends out ’scam’ texts to warn consumers

The Office of Fair Trading (OFT) has announced it is to send out fake ’scam’ text messages to consumers as part of their Scams Awareness month.

According to the OFT, an estimated six per cent of scam victims are aged between 15 and 24, which is part of the motivation for the campaign.

Mike Haley, director of consumer protection at the OFT said that young people can be vulnerable to consumer scams offered through new forms of technology.

“We hope that our innovative approach of sending fake scam text messages will remind young consumers to be on their guard if they receive a suspicious offer,” he said.

The text message reads as ‘Urgent! U may have won £1k cash with ‘2 Good 2 B True’ and is expected to be followed by a second message making it clear that there is no prize and that the message has been sent by the OFT to warn about scams.

According to the OFT, up to three million consumers are victims of scams per year.

Tags: Scams Awareness month, GBP, consumer protection, Fair Trading, fake scam text, scam, Awareness

Delay in bank charges decision from OFT

The Office of Fair Trading has announced a decision to delay the decision with regards to what can be construed as a fair bank charge for those that default on their current accounts. Many experts were expecting a decision from the Office of Fair Trading this month, but the OFT has now stated that the decision will be left until the end of the this year, as further investigation in bank charges is required before any conclusion can be reached.

The decision by the OFT is good news for some people that are waiting to make a claim for unfair and unjustified charges, as it buys them extra time to make their claims without the level of their claim being affected by the OFT decision. The OFT has confirmed that an announcement about the further investigations in to these banks charges will be made around the end of April of this year.

Once a decision has been reached with regards to what is deemed to be a fair charge for those exceeding their overdraft limits and defaulting on their current account in others ways, future claimants will probably only be able to reclaim the difference between what they were originally charged and the amount that is deemed fair by the Office of Fair Trading, so this gives customers extra time to reclaim the full amount for which they were charged. On the other hand, this delay spells bad news for those that were looking to get lower fees from banks in the future.

One thing that has been worrying a number of consumers and experts in the field is the prospect of banks introducing account fees on current accounts if the charges are dramatically reduced in a bid to try and recoup costs.

Tom Smith
23/4/07

Tags: consumer protection, end, overdraft, bank, Consumer Direct, delay, prospect, Bad news