FSA info on Waiver and exemptions from waiver

[Amethyst]

http://www.fsa.gov.uk/pages/Library/...2007/090.shtml

http://www.fsa.gov.uk/pages/Doing/Re...mod_disp.shtml

''Consumers who are in very difficult financial circumstances - 'hardship cases'
Banks and building societies will have to conduct a filtering process to ensure that cases of genuine hardship are still dealt with during the waiver period. Cases of hardship would still be entitled to be referred to, and dealt with by, the FOS.''

Directions to Banks - http://www.fsa.gov.uk/register/pdf/A761895P.pdf

''(3) The FSA encourages the firm to take steps to assess who it is charging, why and
when, and thus what more it can do to help account holders avoid incurring
unauthorised overdraft charges in the first place (whether or not they have
complained). The firm is reminded of the commitment relating to financial
hardship in the Banking Code.''



FSA define hardship as s.14 banking code

(anyone got this bit stick it in)


Lloyds: No stated policy on hardship claims
Abbey: The bank with the heart of granite. - what do you think their policy is?
HBOS: Call centre 'still waiting to hear from head office'
RBOS: Refusing to deal with hardship claims
Norwich & Pererbrough: Refusing to deal with hardship claims
Barclays: Total silence regarding hardship.

[iancognito]

Re: FSA info on Waiver and examptions from waiver

Lloyds: No stated policy on hardship claims
Abbey: The bank with the heart of granite. - what do you think their policy is?
HBOS: Call centre 'still waiting to hear from head office'
RBOS: Refusing to deal with hardship claims
Norwich & Pererbrough: Refusing to deal with hardship claims
Barclays: Total silence regarding hardship.

Take it we can put in a complaint to the FSA then?

[Amethyst]

Re: FSA info on Waiver and examptions from waiver

Guess so - can we get it in writing ? Ask each bank for their policy on hardship ? Although they will blatantly lie (alledgedly).

[iancognito]

Re: FSA info on Waiver and examptions from waiver

I can knock up a letter but would they be obliged to answer or should we get someone from each bank to do it?

I can do:

Co-op
First Direct
HSBC

As a genuine customer

[mistie]

Re: FSA info on Waiver and examptions from waiver

i can do lloyds and abbey as customer....

if someone writes the letter...

[Paule]

Re: FSA info on Waiver and examptions from waiver

I can do Barclays and Nationwide

[Amethyst]

Re: FSA info on Waiver and exemptions from waiver

sounds like we have a plan.... one letter to be knocked up in a spare five then

[Paradox]

Re: FSA info on Waiver and exemptions from waiver

Doesn't need to be anything flash:

Bank Name etc

To Whom it may concern.

In light of the recent decision of the FSA to grant a waiver to all banks involved in the OFT "test case" please can you confirm that you are indeed allowing claims where the claimant is receiving benefits to be continued without requesting a stay.
For clarity, the FSA, in granting this waiver have specifically requested that such claims (hardship claims) still be heard, either by a court, or by the FOS.

Please can you confirm to me the filtering process that you are using to select such cases.

Thank you in advance.

Yours Faithfully.

YOU

Bit rough, probably loads of errors, but I really don't think any more than that is needed.

[Kafka]

Re: FSA info on Waiver and exemptions from waiver

Try this for size


Bank Name etc

Dear Sir or Madam

In light of the recent decision of the FSA to grant a waiver to all banks involved in the OFT "test case" please can you confirm the following questions?

For clarity, the FSA, in granting this waiver, specifically requested that hardship claims still be heard, either by a court, or by the FOS. This is a requirement of the waiver that all subscribing banks are required to adhere to. The precise wording by the FSA is quoted below.

''Consumers who are in very difficult financial circumstances - 'hardship cases'
Banks and building societies will have to conduct a filtering process to ensure that cases of genuine hardship are still dealt with during the waiver period. Cases of hardship would still be entitled to be referred to, and dealt with by, the FOS.''

I am therefore checking and comparing the different policies and practices of the banks concerned.

1 Please explain the filtering process that you are using to identify such cases from the many claims that you receive.

2 Please explain the criteria you use to select the cases that you will process as 'hardship'.

3 Please explain the actions you take to progress the claims of these hardship cases so that they are not disadvantaged further and so that you are complying fully with the FSA's waiver conditions.

4 Please indicate the number of hardship claims you have filtered out and progressed since the announcement of the FSA's waiver on 27th July, and what percentage of pending claims this figure represents.

Thank you in advance for your prompt reply to this matter.

Yours faithfully.

Me

[iancognito]

Re: FSA info on Waiver and exemptions from waiver

I don't believe they said the courts should be dealing with cases, just the banks and the FOS, to date the banks have been refusing point blank, i think we have yet to have a reaction from the FOS.