WAIVER EXTENDED - January 2009 - up to a further 6 months

[EXC]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

The way I read it the language is completely different. The waiver of July 2008 was a new waiver direction. This has now been ''extended'' and ''for up to six months''. The word ''extended'' has not been used before and it would be difficult to see how the FSA could take it beyond July after giving such a clear indication of it's life span.

[Shazzaw]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

thanks for your thoughts EXC.

So do you think that one way or another the FSA are expecting finalisation one way or the other once the Appeal decision comes in??

Do you believe that should the appeal decision go in favour of the banks then that will be it in terms of bank charging reclaiming coming to an end or should the appeal go against the banks they will finally back down and finally start dealing again with claims? Or is this going to drag on and on for another couple of years??

Alot I'm asking I know and appreciate that you do not have definite answers to the above but as always you personal opinion is greatly appreciated by myself and many others !

Many thx

shazzaw

[Amethyst]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

I think this is an extension because nothing has changed materially besides the date, the wordings the same as when the waiver (this version) was introduced.

July 08 waiver attached as its not online any more - if anyone wants to compare.

the Appeal judgment is due before April (we hope), Penalty aspects arent being appealed - although Natwest might decide to appeal the 2001 decision - so thats sorted pretty much, so just appeals on UTCCR then the OFT sorting out what is and isnt fair, then we have the limitations, interest etc type fights to get through at a guess which hopefully if all goes well will get sorted in court in the group litigation (see announcement thing at top of forum), Banks are getting systems in place for whatever the outcome is, and I would assume the FSA is sorting out some plans too (I hope anyway).

I don't think too much can be read into it, other than the test case IS still on going and the waiver needs to stay in place till the legalitys are sorted out.

JMO

[EXC]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

thanks for your thoughts EXC.

So do you think that one way or another the FSA are expecting finalisation one way or the other once the Appeal decision comes in??

Do you believe that should the appeal decision go in favour of the banks then that will be it in terms of bank charging reclaiming coming to an end or should the appeal go against the banks they will finally back down and finally start dealing again with claims? Or is this going to drag on and on for another couple of years??

Alot I'm asking I know and appreciate that you do not have definite answers to the above but as always you personal opinion is greatly appreciated by myself and many others !

Many thx

shazzaw

Sorry Shazzaw, didn't spot this one.

All very difficult questions to answer with any confidence so these are just my thoughts:

Strictly speaking the waiver remains until all appeals have been exhuasted which may or may not include an appeal to the House of Lords - depending on if the banks want to go that far. However we do know from internal bank documents that as far back as August last year the FSA were expressing concern to the banks about the slow progress of the test case and if the appeal goes our way it could be interpreted that that meets the FSA's criteria for ''legal certainty''. This is Tom's point of view that a judgment and and appeal in the OFTs favour constitutes just that.

I would imagine that should the OFT lose the appeal they would take it to the HoL as the test case agreement allows for. I would be very surprised if the OFT wouldn't after investing all the time and money on the case so far.

If the banks lose the pending appeal it's impossible to even guess if they'd throw in the towel but if the FSA were getting twitchy about the case taking so long 6 months ago, they would presumably put the banks under a lot of pressure to call it a day.

[helpmeclaim]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

Hello

So does this mean we won't get the Judgment on the apeal until April?

I thought it was due around the 28th January.

Has any date been set yet when to expect the judgememt?

Regards

[EXC]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

There isn't much to go on I'm afraid but indications suggest sometime during Feb/March.

[EXC]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

I thought I'd have a stab at asking the staggeringly useless FSA to clarify the item in thier press release of 21 January that states that the extension to the wavier has a lifespan of ''up to six months''.

On suggesting that this means the waiver would cease on 27 July I was told that I was ''misinterpreting'' it and what it actually meant was that it could be ''renewed'' after that date. Silly me.

In the meantime, it appears that the Frickin Sanctimonious Ar**holes have granted themselves their own waiver on responding to complaints:

Correspondence delays

The Customer Contact Centre is currently receiving high volumes of correspondence and are not achieving our stated aim of responding to 80% of cases within 12 days. You may therefore experience a delay in receiving a response to your enquiry. We apologise for any inconvenience this may cause and assure you that we are working hard to reply to you as soon as possible.

[TANZARELLI]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

LOL I was on a training course yesterday with work. It was called "Young People and Money".

Guess who funded the course and wanted the training to be put out there?

Yep the FSA.

After getting on my soap box about the waiver and how crud the FSA was, I next get into a discussion about Bank Charges to which the women knew not a lot.

Other interesting points during the day were whent ehy gave a pack of example letters out from lenders and DCA's etc and we were asked to prioritise them in order of importance, you know the drill. I got into some discussions with other people on the course about CPR requests to DCA's etc, CCA requests and SAR's, much to which was new to most of the people on the course.

All in all it was about engaging young people in discussions around money and debt etc which was good and something which is needed, funny though how the only sites mentioned re bank charges were Which and CAB. To which I soon plugged a few others.

[EXC]

Re: WAIVER EXTENDED - January 2009 - up to a further 6 months

They are a completely discredited organisation. The recorded message on the Money Made Clear switchboard is made by a young lad who can't pronnounce th's and sounds like he'd be more suited to flogging second hand Mondeo's in South London.

I know syphilitic vietnamese water buffalos with higher IQ's than that shower.