Help needed with FOiA request

[Froggy]

Re: Help needed with FOiA request

A point i missed as well, is one which is mentioned by Budgie above. I have the paper based version of the Banking Code in front of me.

14.6 "In certain circumstances we may pass your debt to another organisation or debt-collection agency. When arranging how you will make your repayments, we will always choose reputable firms which agree to follow the code"
Which DCA's comply with the Banking Code 2008?

[Froggy]

Re: Help needed with FOiA request

additional point is that the link is for the BUSINESS banking code of conduct which has NOTHING to do with PERSONAL accounts. Minor issue I know but still that link that they have given you is a RED HERRING.

[EXC]

Re: Help needed with FOiA request

Do we know how many people HAVE sought independent guidance from the FSA and how many have been successful in their appeal to the FSA?

I assume you mean the FOS. No we don't. The FOS would be the best source for this but unfortunately they are not covered by the Freedom of information Act. I'll ask the FSA though.

[Froggy]

Re: Help needed with FOiA request

THanks for the correction there, I do mean the FOS.
Was it an error in their email pointing you to the Business Banking Code rather than the Banking Code?

[EXC]

Re: Help needed with FOiA request

I'm pretty sure it was just an error but it does go to show just how inept they are.

I'm going to go to town with this.

[EXC]

Re: Help needed with FOiA request

New FSA FoIA request submitted today.



----- Original Message ----- From: EXC
To: Freedom of Information FSA
Sent: Monday, September 01, 2008 12:26 PM
Subject: FoIA Request




Dear Ms Edwards

I wish to make a request for information under the Freedom of Information Act 2000.

The background to request 1-2 is as follows:

The complaints handling waiver granted to banks on 26 July 2007 and extended on 26 July 2008 permits banks so suspend the processing of complaints in relation to unauthorised overdraft fees and encourages banks to seek stays on claims in the County Courts, pending the outcome of the OFT test case and largely in the name 'consumer protection'.

Inexplicably and somewhat perversely, the FSA has not, as far as I'm aware, discouraged the banks from enforcing debts made up wholly or significantly of the disputed charges. Banks continue to enforce these debts in the courts, employ the services of Debt Collection Agencies and sell debts to third parties. By any standards imaginable this not an equitable state of affairs.

Request1-2

1) Please supply me with the FSA's current policy with regard to the enforcement of debts made up wholly or partially of the relevant charges currently covered by the complaints handling waiver/OFT test case.

2) Please supply me with the advice/guidance the FSA has given to the banks on the issue of the enforcement of debts made up wholly or partially of the relevant charges currently covered by the complaints handling waiver/OFT test case.

Background to request 3

In the FSA's press release 'FSA grants new waiver to firms on complaints handling' of 21 July 2008, it states that ''The waiver will be for six months, when we expect to have a decision from the Court of Appeal." This clearly implies that any consideration of a further extension to the waiver would be dependant on the outcome of the court of appeal hearing due to be heard on 28 October.

Despite this the banks recently met with the FSA to discuss the 'value' of the test case and in particular to ask the FSA to commit to extending the complaints handling waiver beyond January 2008 and that the FSA is considering this and will convene a further meeting to discuss extending the waiver in the absence of any decision by the Court of Appeal,

Request 3

3) Has there been a change in the FSA's policy as to the criteria it relies on in considering a further extension to the waiver? And if so please supply me with it.

Finally, you will of course recall your responses to my previous FoIA request in which you stated categorically (and incorrectly) on 4 separate occasions that ''financial difficulty is defined in the Guidance for subscribers to the Banking Code''or the banking code itself, and that subsequently the FSA's Consumer Contact Centre confirmed that ''As you are aware, neither the FSA not the BCSB provide a set definition of financial hardship''.

I trust that on this occasion, the information I ask for will be both accurate and honest.

Regards

EXC

[Budgie]

Re: Help needed with FOiA request

Excellent Exc

[Budgie]

Re: Help needed with FOiA request

Actually, am just popping a reminder on here for me for later.

FSA waiver, interest !!!!!!!!

[EXC]

Re: Help needed with FOiA request

In theory I should get a response on this today as their 20 working days are up. The issue of enforcing charge debts and the selling of disputed accounts was also brought up with the FSA by their consumer panel. http://legalbeagles.info/forums/show...1063#post81063

[EXC]

Re: Help needed with FOiA request

----- Original Message -----
From: Freedom of Information FSA
To: EXC
Sent: Monday, September 29, 2008 1:57 PM
Subject: Freedom of Information: Right to Know request

FOI0999

Dear EXC
Freedom of Information: Right to know request

Thank you for your request under the Freedom of Information Act 2000 (the Act), for the following information:

• 1) Please supply me with the FSA's current policy with regard to the enforcement of debts made up wholly or partially of the relevant charges currently covered by the complaints handling waiver/OFT test case.
  
  
  
  
  2) Please supply me with the advice/guidance the FSA has given to the banks on the issue of the enforcement of debts made up wholly or partially of the relevant charges currently covered by the complaints handling waiver/OFT test case.
  
  3) Has there been a change in the FSA's policy as to the criteria it relies on in considering a further extension to the waiver and if so please supply me with it.
  
  
  
  

Your request has now been considered and I shall respond to each part of your request separately.
In relation to points 1) & 2), I can confirm that the information you have requested can be found on the FSA’s website www.fsa.gov.uk under the following link:
http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/Consent/mod_disp.shtml
In relation to point 3), I can confirm that the information you have requested was referred to in the FSA’s press release dated 21st July 2008, and can be found on the FSA's website www.fsa.gov.uk under the following link:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/073.shtml

If you have any queries or have difficulty accessing this information please contact me.

Yours sincerely

Lesley Richardson
Information Access Team
Tel: 020 7066 4216

----- Original Message -----

From: EXC
To: Freedom of Information
Sent: Monday, September 29, 2008 5:28 PM
Subject: Re: Freedom of Information: Right to Know request

[EXC]

Re: Help needed with FOiA request

This is an FoIA request Bob Egerton has today made to the FSA.

Dear Sirs

Freedom of Information Act request

Over the weekend of 11/12 October 2008, BBC News reported that the FSA was in
negotiations/discussions with banks about the level of capital that the FSA felt was appropriate
for banks to hold on the assumption that economic circumstances might become increasingly
difficult over the next few years – in the words of Robert Peston, “on the basis that an economic
tsunami is coming.”

Would you please advise the following:

1. Were the banks advised to assume that they would be liable to repay customers any sums of
money as a result of claims for refunds of penalty bank charges?

2. If so, what was the anticipated scale of refunds in total for the industry? (I am not requesting
that you reveal details about particular banks.)

I look forward to hearing from you in due course.

Yours sincerely

Bob Egerton

[natweststaffmember]

Re: Help needed with FOiA request

Exc, roughly how long on average would you expect them to reply with a response?

[EXC]

Re: Help needed with FOiA request

In my experience FSA always take their full quota of 20 working days.

[natweststaffmember]

Re: Help needed with FOiA request

So we are looking at 10th November 2008 which may not have much to it perhaps.

[EXC]

Re: Help needed with FOiA request

Here's the reply.


Our ref: FOI1042
Dear Mr Egerton
Freedom of Information: Right to know request
Thank you for your request under the Freedom of Information Act 2000 (the Act), for the following information:

• “1 - Were the banks advised to assume that they would be liable to repay customers any sums of money as a result of claims for refunds of penalty bank charges?
  
  2 - If so, what was the anticipated scale of refunds in total for the industry? (I am not requesting that you reveal details about particular banks.)”

We can neither confirm nor deny whether we hold the information you have requested. This is because the following exemption applies:

• Section 31 (Law Enforcement)
  
  As this exemption is qualified, we have considered whether the balance of public interest is in favour of its application. Having done so, we have decided to apply it because if we were to confirm one way or another whether we hold the information you have requested, this would prejudice both any immediate work we may or may not be doing, and because banks or third parties would be less willing to provide information to us.
  Also such confirmation, one way or another, has the potential to mislead and prejudice the financial markets and consumers. This could also lead to widespread speculation which could hinder and prejudice the progress of any current and/or future FSA regulation.
  

Factors for disclosure:
· Disclosure of the information requested would bring to light information that may affect consumers and may help them make informed decisions in any dealings with banks.


Factors against disclosure:

• · It is in the public interest that the FSA, in the course of its regulatory function, is able to have open and candid exchanges of information and views with banks and that any such exchanges, particularly where banks provide to the FSA commercially sensitive information about themselves or other firms or where the FSA provides opinions, views and recommendations to firms, should remain confidential.
  
  • To release details of what may or may not have been discussed between the FSA and banks in the current market turbulence could affect the market, and firms in that market (whether positively or negatively). As explained earlier, this could have the potential to mislead consumers and the markets.
    

On balance, we would therefore consider that the need to protect the FSA's efficiency and effectiveness in conducting and maintaining open and candid external and internal exchanges of information and views about the firms we regulate would outweigh the public interest in disclosing the information. For these reasons, in our view the public interest would lie against disclosure.
If you have any queries or are unhappy with the decisions made in relation to your request please call me. If I am not able to resolve your concerns I will advise you of the process for an internal review. If you wish to exercise your right to an internal review you should contact us within three months of the date of this letter.

If you are not content with the outcome of the internal review, you also have a right of appeal to the Information Commissioner at:

Information Commissioner's Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF


Yours sincerely
Sandra Collins (Mrs)
Information Access Team
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel: 020 7066 7120
E-mail foi@fsa.gov.uk