September Already?

Well the sun is shining but the mornings are getting darker as we move into the autumn. As I sit here at CIOBS towers. It is a day for reflection. Raymond continues on his "Summer break" The Academy continues to exist in his absence. There was a bit of a flurry on Friday and over the weekend as the closing date for assignments and exam enrolments dawned. The closing date for assignment 2 is 10th October, yes, that is 37 days away - so please start planning now!

Revison sessions are starting this week here at CIOBS and will continue until 17th October. Please see http://www.ciobs.org.uk/qualifications/downloads/Revision_Course_Timetable.pdf
for further details.

I notice that overdraft charges are in the news once again.The OFT has today, 31th August 2007 filed particulars of claim at the High Court on the application of the law in respect of unauthorised overdraft charges, and these documents will be available on the OFT website next week after they have been served on the other parties. The documents relate to the question of whether the fairness test in the Unfair Terms in Consumer Contract Regulations (UTCCRs) applies to the relevant charges.

The OFT is continuing its financial investigation to determine whether or not unauthorised overdraft charges are fair, based on its view that the fairness test does apply to them. This investigation is due to be completed by the end of the year.The banks take the view that the charges are not covered by the fairness test in the UTCCRs and the court case at the beginning of 2008 is designed to test this point of law.

It will not lead to a judgment as to whether the charges themselves are fair or not. The OFT will decide after the initial judgment what steps to take should it win the test case and conclude from its financial investigation that any of the charges are unfair. The OFT will publish its market study on the current account market in December 2007.

Well a new day and a new month. have a good week and speak to you soon. Where are these guest presenters I promised you? I will look into this and maybe have a surprise for you this week .

Have a good one.

Michael (Feeling a bit Autumnal)