Seventeen banks and building societies have agreed to repay interest and charges to nearly 500,000 borrowers as a result of admin mistakes

Almost 500,000 people are to be repaid interest and charges by 17 banks and building societies following action by the Office of Fair Trading (OFT). The banks and building societies, which the OFT is refusing to name, were found to have not provided information in the format required by the Consumer Credit Act 1974. As a result they will have to repay more than £149 million in interest and charges that were levied on store cards, credit cards, loans and hire purchase agreements.......Read more here