Historic judgement in favour of consumers

OTTAWA – The Quebec Superior Court rendered a historic decision yesterday. They sentenced banks to give back 200 million dollars to Quebec credit card owners for charging unjustified fees when converting currencies.

“The Quebec Superior Court has just sent a major warning to banks,” said New Democrat Consumer Protection Critic Glen Thibeault. “I hope Harper’s Conservative government also got the message. Conservatives refuse to help protect consumers but that doesn’t mean that consumers won’t win their fight to get a fair deal from the banks and stop the banks excessive gouging.”

According to the ruling, nine Canadian chartered banks and the Desjardins Group charged credit card holders fees to convert currencies, which is against the Quebec Consumer Protection Act.

“This is good news for consumers and gives us momentum to pursue our fight against the disproportionate interest rates and unfair fees imposed by banks right across the country,” added Thibeault (Sudbury).

Banks will certainly appeal the judgment and plead that the Quebec Superior Court doesn’t have authority over them since they are under federal jurisdiction. “We will see if the government is serious this time around. Who comes first: the banks or the consumers?” concluded Thibeault.