Overdraft fees ruled legal in England


It's probably not something that most Americans are following, but in England, the Supreme Court has been studying the legality of bank overdraft fees and whether the public should be refunded, and their verdict is in: the overdraft fees that have been soaking the British are legal.

Two courts had previously indicated that English banks might have to refund their fees, and I admit the thought made me rather gleeful, and last September in a WalletPop post, I started wondering if some similar lawsuit might make its way through the American courts. Why not? We borrowed The Office from England, and it's worked out so well here. Maybe we could take a real scenario in England and help us over on the other side of the Atlantic.