Latest Update on PPI Judicial Review - NO APPEAL - get your claims in......

[cappo]

Re: Latest updates on PPI Judicial Review and claims on hold

wouid you all believe i only learned how to use a mouse today i,m a computer illiterate lol

[di30]

Re: Latest updates on PPI Judicial Review and claims on hold

wouid you all believe i only learned how to use a mouse today i,m a computer illiterate lol

lol don't worry Cappo, I went from lappy to desktop and was totally lost lol x

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

The Head of Retail at RBS, Brian hartzer, has told the Financial Times that banks sell expensive payment protection insurance alongside personal loans to keep interest rates low.

FT.com / Companies / Banks - RBS retail chief admits struggle to meet pledges

RBS retail chief admits struggle to meet pledges

By Sharlene Goff
Published: March 1 2011 22:12 | Last updated: March 1 2011 22:12

Brian Hartzer, head of UK retail at Royal Bank of Scotland, admits there is still a long way to go to rehabilitate the bank he says “lost the plot” in the years before the financial crisis.
Nearly half its customers are unsatisfied with how the part-nationalised bank handles their complaints, the product range is still too complex and many branch queues too long.

But the US banker, who joined 18 months ago, feels he is slowly reversing years of underinvestment in the retail business, which comprises the RBS and NatWest brands.

Already he has cut retail products from about 600 to a quarter of that, although ultimately he wants only “a couple” of current accounts, credit cards and mortgage deals, each with distinct features.

On Wednesday RBS publishes the independently assessed report of its “customer charter” – pledges made last year to improve service. It will show that the bank met 20 of its 25 self-imposed targets, including extending branch opening hours and sending out replacement cards within 24 hours. But it fell short on complaint handling, service levels within branches and product literature. Mr Hartzer says the bank is still 18 months from delivering a service he would be comfortable with.

Operating profits at the UK retail business rose from Ł229m in 2009 to Ł1.4bn last year, but driving sustainable revenue growth is expected to become more difficult.

Mr Hartzer admits that the cross-subsidy banking model – which saw customers who regularly exceeded their overdraft limit, and incur costs for doing so, in effect pay for the accounts of those who did not – was unsustainable.
So was the package approach that saw banks sell expensive payment protection insurance alongside personal loans to keep interest rates low.

“Banks have enormous fixed costs that need to be recovered – but it is not fair to charge somebody hugely more than the value they are getting. Gradually it got so completely out of whack,” he says.

Fuelling speculation that the end of cross-subsidisation will mean the death of free current accounts, Mr Hartzer says banks will have to “evolve to a system increasingly more reflective of cost and value”. He notes the difficulty for banks to be first to impose monthly fees on all its accounts: “Customers have got used to certain practices. We have to be mindful of customer attitudes and competition.”

RBS aims to increase revenue by selling existing customers more services, particularly mortgages, where the bank has traditionally been weak. “We are sitting on a 7 per cent share of mortgages [so] there is a massive opportunity – but our ability to lend is going to be constrained by our ability to fund the loans.”

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

hi all, sorry to hijack thread, something you all might find useful on the independent (newspaper) site regarding banks writing off 25% more debt towards the end of 2010 (my wifes going to have to teach me to cut and paste!) also barclays have taken over egg credit card accounts (independent) headlines.

The Press Association: Banks writing off 25% more debt

Best I could find was the Press Association article.

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

http://www.bbc.co.uk/news/business-12612927

[The Debt Star]

Re: Latest updates on PPI Judicial Review and claims on hold

The Head of Retail at RBS, Brian hartzer, has told the Financial Times that banks sell expensive payment protection insurance alongside personal loans to keep interest rates low.

and there's the problem: policy factors like that may (may) play a decisive part in the eventual decision of the court. also the loss of jobs in the insurance industry blah blah blah. with the economy so wazzuked after 13 years of Bliar/Brown the present Government may be too nervous to see the banks lose this one (and pull the appropriate strings at the Carlton Club or Masonic Lodge Luncheon Clubs, wherever, to get their way).

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

NatWest Customer Charter(mickey mouse promises that they could hardly fail, imho) gave the top 5 complaints and number 3 was PPI

"3. Problems with Payment Protection Insurance
Along with a number of other Banks, we are waiting for the outcome of a Judicial Review before we decide how we handle these complaints. Those Payment Protection Insurance complaints that are not affected by the Review are being resolved in the usual way."

NatWest Customer Charter

[enaid]

Re: Latest updates on PPI Judicial Review and claims on hold

[QUOTE=The Debt Star;200994]and there's the problem: policy factors like that may (may) play a decisive part in the eventual decision of the court. also the loss of jobs in the insurance industry blah blah blah. with the economy so wazzuked after 13 years of Bliar/Brown

the present Government may be too nervous to see the banks lose this one (and pull the appropriate strings at the Carlton Club or Masonic Lodge Luncheon Clubs, wherever, to get their way).

The Government should not be afraid of the Banks or any other industry IMHO,Iit should be the other way around. I think once we get a Government that can actually
Govern then we may get somewhere near close to being happy.

[cappo]

Re: Latest updates on PPI Judicial Review and claims on hold

The Press Association: Banks writing off 25% more debt

Best I could find was the Press Association article.

it,s there nat i now checked back on site it,s 2 pages down along with the barclays taking over egg accounts article i,m practising cutting and pasting now it,s the same site you got the other article, links below

http://www.independent.co.uk/news/bu...s-2229577.html

http://www.independent.co.uk/news/bu...t-2229252.html

[The Debt Star]

Re: Latest updates on PPI Judicial Review and claims on hold

IMHO,Iit should be the other way around. I think once we get a Government that can actually
Govern then we may get somewhere near close to being happy.

I totally agree, it should be the other way round. But is it?

As for governing properly, absolutely. But the last Government couldn't do that even with a whopping majority in Parliament.

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

The Head of Retail at RBS, Brian hartzer, has told the Financial Times that banks sell expensive payment protection insurance alongside personal loans to keep interest rates low.

lol heard it all now whilst that could be the case with loans as it is hard to prove I fail to see how that would apply to credit cards as you may get an introductory rate but after that the rates always go up even when the interest rate was at an all time low.

Thinking about it even some loans are expensive like welcome for instance

[whatnest]

Re: Latest updates on PPI Judicial Review and claims on hold

Does anyone have an address for this Guy, im tempted to send him a nice customer complaint (quoting his comments) along with my CC ppi refund request.

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

Does anyone have an address for this Guy, im tempted to send him a nice customer complaint (quoting his comments) along with my CC ppi refund request.

Well if you do you might want to remind him of the evidence he gave before the Treasury Select Committee in July where he says:

''Cross-selling is certainly an important part of what we’re trying to do because in the end-and as Stephen said, there are banks that have quite reasonably different strategies on this-our strategy is to try to be a full service provider, and to differentiate ourselves by having good strong relationships with customers that mean they trust us and want to bring more of their business to us over time.''

Somehow it doesn't quite chime with what he told the FT does it?

Read from Q324 Uncorrected Evidence - Competition and Choice in the banking sector

[Class Act]

Re: Latest updates on PPI Judicial Review and claims on hold

Just had this sent through.

Anyone with a Welcome Fin case??

Click the link.

http://www.fscs.org.uk/news/2011/mar...epm/index.html

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

Just had this sent through.

Anyone with a Welcome Fin case??

Click the link.

http://www.fscs.org.uk/news/2011/mar...epm/index.html

Nice one Class Act.

BBC News - Welcome Finance claims taken over by FSCS