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25 November 2009

In light of the Supreme Court’s judgment today in the bank charges test case the Financial Services Authority (FSA) can confirm that its waiver has now lapsed.

The waiver was granted during the test case so that firms did not have to deal with complaints about unauthorised overdraft charges in the eight-week-period required under FSA rules while the outcome of the court case remained unclear.

Firms can now resume processing consumers’ complaints in accordance with the FSA’s complaint handling rules.