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The Supreme Court of England and Wales has ruled that banks do not have to repay fees charged to customers for overdrafts and other account penalties. The news is a blow to many campaigners but also a relief given the sabre-rattling threats of universal cash machine charges. The banks have won the battle, essentially on a technicality: that the OFT did not have the power to determine whether the charges were unfair.

However, long before this battle was concluded, the banks had lost the war.

They have lost the respect of customers and will struggle to win it back. It’s a market ripe for a new entrant to break the mould.

I once harboured hopes that the biggest financial crisis in my lifetime would bring about changes in society. Gordon Brown’s speech yesterday only served to underline the lack of change.

Real leadership means lots of things but includes taking every opportunity to lead – making the most of a crisis. The credit crunch was the best opportunity in a generation for politics to become relevant, to change the direction of our country and stake out a new course for Britain. The opportunity has been missed.

Dear Brian Hartzer Thank you for your letter to me as a customer of Nat West.I’m sorry that the following letter is not more entertaining but bank charges makes for a dry subject. I was surprised to read about it in a full page advert in The Times. I don’t usually get the Times in [...]