The Halifax is the second Bank to run up the flag of surrender in the OFT V Banks High Court case due to be finalised in January of next year.
Thousands of bank account holders have refused to accept the punative charges that can see a £10 overdaraft baloon into a £1500 charges bloodfest in a matter of months.
The banks are preparing themselves for mass write offs and refunds on current accounts.
This case was won a year ago by the OFT but they continued to appeal. This has been the first example of a concerted attack on bank priviliged thievery by the public.
The destruction of the public finances by Labour has also meant a de facto tax strike, because business and the public have no more to give.
The fact that Labour is now belatedly decided to 'look at' some of their high spending programmes has been brought about because the Labour vampire has reduced the UK economy to a bloodless corpse, and there are no fresh virgins for them to go after. Not that the Vampire has changed its habits, because the Cabinet cannot agree to even scrap the proposed ID cards legislation.
Parasites eventually die when the host dies, or the host takes action to rid itself of the contagion.
There is an upside to this slump after all.