Appeals - Days 1, 2, 3 and 4... so far

[TANZARELLI]

Re: Appeals - Days 1, 2, 3 and 4... so far

Thanks again for the update EXC.

[Ladidi]

Re: Appeals - Days 1, 2, 3 and 4... so far

Hi Everyone,

I was browsing on the internet and thought I would catch up with the days news events when I came across this peice of information on BBC News.

I have not seen it on here and I dont know the relevance it may have to the case that is going on at the moment, but then again with the banks changing the terms and conditions and now the FSA are stating they may govern the banks and effectivly fine them for wrong doings, it might be something and then again nothing. Though I would share so you can make up your own minds..


FSA may regulate bank behaviour


The FSA wants more control over day-to-day banking


The Financial Services Authority (FSA) says it wants to regulate the way banks treat their High Street customers.
Currently, banks regulate themselves through the Banking Code Standards Board (BCSB).
In a consultation document, the FSA says the present set-up may be inadequate because the BCSB "does not have the power to fine."
The current banking code is supposed to ensure banks "provide a fair deal to personal and small business customers."
"Retail banking is going through a period of rapid change and regulation needs to keep pace with this change," said Jon Pain, the FSA's managing director of retail markets.
"We believe that in order to ensure that the regulatory model is fit to meet these challenges, now and in the future, the FSA should regulate the wider aspects of everyday banking for all consumers."
Complaints
The banking code was originally devised in 1992 and since 1999 has been enforced by the BCSB.
Its current version was revised in March this year.
It sets down guidelines for the way banks deal with account holders and covers the way they market and operate their current and savings accounts.
It also covers the way accounts can be opened and closed, and the information that should be given to customers about changes to their accounts.
This includes the way changes to interest rates are communicated, as well as basic information about terms and conditions.
The code also governs the way banks handle complaints or deal with customers who have financial problems.
In its consultation document the FSA said it has noted an increase in the number of complaints being made about bank accounts.
"While these involve only a small percentage of total users, minor regulatory and market failures can add up to significant cumulative numbers," it said.
It added that customers might suffer because the FSA was unable to enforce one of its main principles that "a firm must pay due regard to the interests of its customers and treat them fairly."
Deterrence
The FSA said the scope of the current code was "broadly correct" and said the BCSB enforced it effectively.
But the FSA suggested it wanted the code to be more of a deterrent to bad behaviour.
"Though the threat of publicity and resulting reputational damage is seen by firms as a significant disciplinary tool, we believe that the BCSB's deterrence is limited by the absence of a fining power and the Board's relatively low media profile," the FSA said. Two areas that the FSA is not proposing to regulate are the way in which banks provide unsecured loans and credit cards, for which the Office of Fair Trading (OFT) is already responsible. Its plans would apply not only to banks but also to building societies and credit unions.

Ladidi

[EXC]

Re: Appeals - Days 1, 2, 3 and 4... so far

Thanks Laddidi.

The question is do we really want bank's behaviour overseen by a bunch of ex-bankers paid for by bankers? The FSA have proved time and time again that they couldn't regulate the water temperature from a mixer tap.

In July 07 they wrote to the banks voicing ''serious concerns'' about the way they were handling compaints about unauthorised overdraft charges.

http://www.fsa.gov.uk/pubs/ceo/complaints.pdf

And what did the FSA do about it? On the very same day, they granted the banks a waiver absolving them of their responsibility to deal with the complaints at all.

In the modern world banking is a utility and should be regulated as such.

[Jester]

Re: Appeals - Days 1, 2, 3 and 4... so far

Here you go

Royal Courts Of Justice
Strand
Charing Cross, London, WC2N 5HX

Google Maps

Well I am currently sat in offices in Regents Park. So if my meetings finish as scheduled, expect to see me around the courts sometime around 3.30pm today. Easily recognisable as I apparently look like Stone Cold Steve Austin (according to a lot of Americans LOL).

[EXC]

Re: Appeals - Days 1, 2, 3 and 4... so far

Well I am currently sat in offices in Regents Park. So if my meetings finish as scheduled, expect to see me around the courts sometime around 3.30pm today. Easily recognisable as I apparently look like Stone Cold Steve Austin (according to a lot of Americans LOL).

I wouldn't bother. Me and Budgie got here this morning to find that it finished yesterday - even though it is stil listed on the HMCS site and in RCJ itself.for today.

I'll call the OFT later and find out if the banks were granted leave to appeal on PIL.

[TANZARELLI]

Re: Appeals - Days 1, 2, 3 and 4... so far

Did you stay until the end yesterday EXC?

[righty]

Re: Appeals - Days 1, 2, 3 and 4... so far

Thanks Laddidi.

The question is do we really want bank's behaviour overseen by a bunch of ex-bankers paid for by bankers? The FSA have proved time and time again that they couldn't regulate the water temperature from a mixer tap.

In July 07 they wrote to the banks voicing ''serious concerns'' about the way they were handling compaints about unauthorised overdraft charges.

http://www.fsa.gov.uk/pubs/ceo/complaints.pdf

And what did the FSA do about it? On the very same day, they granted the banks a waiver absolving them of their responsibility to deal with the complaints at all.

In the modern world banking is a utility and should be regulated as such.

EXE I agree

In today's world having a bank account is as essential to daily living as is having running water & electricity & should be regulated as such

[EXC]

Re: Appeals - Days 1, 2, 3 and 4... so far

Did you stay until the end yesterday EXC?

No, had to do a school run. I've been trying to speak to the OFT to find out if the banks were granted leave to appeal the judgment on PIL but the entire retail banking team is out of the office (?)

[Budgie]

Re: Appeals - Days 1, 2, 3 and 4... so far

No, had to do a school run. I've been trying to speak to the OFT to find out if the banks were granted leave to appeal the judgment on PIL but the entire retail banking team is out of the office (?)

Hopefully celebrating down the pub !!

[EXC]

Re: Appeals - Days 1, 2, 3 and 4... so far

Thursday 6th November 2008

It is emphasised that the following list is provisional and subject to change until 4.30pm. Any alterations after this time will be telephoned or emailed direct to the parties or their legal representatives.

COURT OF APPEAL
CIVIL DIVISION

COURT 73
Before THE MASTER OF THE ROLLS
LORD JUSTICE WALLER Vice President of the Court of Appeal, Civil Division and
LORD JUSTICE LLOYD
Thursday, 6th November, 2008
At half-past 10
APPLICATIONS
A3/2008/1396 Office of Fair Trading -v- Abbey National Bank Plc. Application of Claimant for permission to appeal and expedition with appeal to follow if granted. Part Heard.
A3/2008/1406(Y) Office of Fair Trading -v- Abbey National Plc & ors. Application of 4th Defendant for renewal of lower court part refusal of permission to appeal. Part Heard.
A3/2008/1406 Office of Fair Trading -v- Abbey National Plc & ors. Application of 4th Defendant for permission to appeal and expedition with appeal to follow if granted. Part Heard.
APPEALS
A3/2008/1400 The Office of Fair Trading -v- Abbey National Plc & Otrs. Appeal of 8th Defendant from the order of Mr Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.
A3/2008/1401 Office of Fair Trading -v- Abbey National Plc & Otrs. Appeal of 6th Defendant from the order of Mr Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.
A3/2008/1402 Office of Fair Trading -v- Abbey National Plc & ors. Appeal of 3rd Defendant from the order of Mr Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.
A3/2008/1403 Office of Fair Trading -v- Abbey National Plc & Otrs. Appeal of 2nd Defendant from the order of Mr Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.
A3/2008/1407 Office of Fair Trading -v- Abbey National Plc & Otrs. Appeal of 7th Defendant from the order of Mr.Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.
A3/2008/1404 Office of Fair Trading -v- Abbey National Plc & ors. Appeal of Defendant from the order of Mr Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.
A3/2008/1405 Office of Fair Trading -v- Abbey National Plc & Otrs. Appeal of 5th Defendant from the order of Mr. Justice Andrew Smith, dated 23rd May 2008, filed 13th June 2008. Part Heard.

I checked on this when I got back and they've changed it to Wednesday 5 November!

What are you like on wasted costs orders Bud?

[Budgie]

Re: Appeals - Days 1, 2, 3 and 4... so far

I checked on this when I got back and they've changed it to Wednesday 5 November!

What are you like on wasted costs orders Bud?

Am good,

have added a wasted days holiday, a train ticket, two cups of coffee and an almond croissant to my stayed court claims !!!

[Tools]

Re: Appeals Day Two

Hi Everyone,

I was browsing on the internet and thought I would catch up with the days news events when I came across this peice of information on BBC News.

I have not seen it on here and I dont know the relevance it may have to the case that is going on at the moment, but then again with the banks changing the terms and conditions and now the FSA are stating they may govern the banks and effectivly fine them for wrong doings, it might be something and then again nothing. Though I would share so you can make up your own minds..

It was posted here Ladidi FSA may regulate bank behaviour 4th November 2008, 16:40:PM but thank you for posting it in here too

[Ladidi]

Re: Appeals Day Two

It was posted here Ladidi FSA may regulate bank behaviour 4th November 2008, 16:40:PM but thank you for posting it in here too

Thanks for that update Tools, I have to say I never saw it, but then I guess I do need to go back to spec savers and ask them for better specs..Lol

[EXC]

Re: Appeals - Days 1, 2, 3 and 4... so far

The OFT have confirmed that the 4 banks in question were granted leave to appeal on Plain Intelligible Language, that was originally refused by Justice Smith in the lower court.

The OFT have been given no indication as yet when the appeal judgment is expected to be handed down.

[skintkim]

Re: Appeals - Days 1, 2, 3 and 4... so far

Sorry but what does this mean?