Britons Strike Back at Bank Fees

Is it the end of overdraft charges? British consumers are suing eight banks over what they think are unfair practices. The U.S. is watching carefully

On Jan. 14, a long-awaited hearing begins in Britain to determine the legality of bank overdraft charges. The test case pits Britain's main consumer watchdog against eight big British banks in a battle that will have major ramifications for retail banks and their customers. The court's ruling, says HSBC Holdings (HBC) Chairman Stephen Green, could "change the economics of retail banking" in Britain.

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