To ask the Secretary of State for Business, Enterprise and Regulatory Reform whether he plans (a) to regulate and (b) to assess the viability of the regulation of penalty bank charges by legislative means. (152904)

[holding answer 26 July 2007]: The OFT is already investigating the fairness of charges on current accounts under the Unfair Terms in Consumer Contracts Regulations, and is also carrying out a market study into current account pricing. The Government have no plans at present to introduce further regulation given the current OFT work. It will be for the OFT to take or recommend any action in the light of its findings.