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[biglouis999]

I believe this ruling is following in the wake of several mis-selling scandals in the UK where consumers were sold financial products which were not suitable for them. Many of these products were sold at a time when the consumer was not looking to buy something and had maybe just called their bank or cc provider to activate a credit card or take out a loan. The product was sort of "pushed" onto them.

Now many consumers are claiming back their fees plus interest and the banks have been forced to put aside millions of pounds to compensate people.

There is now an emphasis on consumers being given an opportunity to ask questions to ensure that the product or service they are considering or have purchased is exactly what they need and to obtain redress if it isnt.

There used to be a 6 year limit on claiming back on these financial products but now there is a loophole whereby people can say "Well I did not know I had one of these policies as part of my package and I have ONLY JUST BECOME AWARE of it." So the claims can now extend back longer than 6 years.

Once this has been accepted as a precedent it follows that people can also claim that they bought a faulty product but "did not realise" they could do anything about it in the intervening years.