Waiver Review: No Change

[EXC]

http://www.fsa.gov.uk/pages/Library/...2007/119.shtml

[EXC]

Re: Waiver Review: No Change

http://www.fs-cp.org.uk/press/ct_pr106.html

[iancognito]

Re: Waiver Review: No Change

Business as usual then - on whichever planet they're on

[Nattie]

Re: Waiver Review: No Change

bunch of ers

[thephoenix]

Re: Waiver Review: No Change

In the course of the review the FSA found that a number of firms had changed their terms and conditions in relation to unauthorised overdraft charges. In the waiver, each firm agreed 'it will not make materially adverse changes in the level of its unauthorised overdraft charges (or in ways that it applies such charges to its customers' accounts) which could amount to customer abuse'. The FSA will be closely monitoring how any change made by a firm will affect customers in practice and whether this amounts to a breach of the waiver.

hmmmmmmmmmmmmmmmm
Particular concerns had been raised during the review period about the position under the waiver of complainants who may be in financial difficulty. The FSA is satisfied that the relevant part of the waiver is being complied with. However, in view of the importance of this issue, the FSA will carry out further work, in conjunction with the Banking Code Standards Board (BCSB), to check that firms continue to provide appropriate treatment of consumers in genuine financial difficulty.

hmmmmmmmmmmmmmmmmmm

The waiver review confirms that it remains appropriate for the waiver to continue to apply to consumers in Scotland
........has no jurisdiction in Scotland
"hmmmmmmmm......"


............and the waiver continues.

[iancognito]

Re: Waiver Review: No Change

I used to be able to phone FD up and say "I'm skint, can I increase my OD til payday" and they could say yay or nay, now I can do it myself online and pay £25 for the privilege (and they can still say no) is that an adverse change or am I losing it in my old age?

[Tools]

Re: Waiver Review: No Change

In their 2 month review release

7. Firms’ procedures for compliance with the waiver, including the methodology
for filtering relevant charges complaints from other types of complaint, or parts
of complaints, which were not covered by the waiver, or related to other issues
including cases of financial difficulty.

So Credit card and small business accounts havent been told they are subject to the test case by any of them????? PM ME THE DETAILS OF ANY CASES YOU HAVE I.E CREDIT CARD CHARGES CLAIMS WHERE THEY HAVE TOLD YOU IT IS.

12. Firms have established appropriate policies and procedures for filtering relevant charges complaints from other types of complaint, or parts of complaints, which relate to other issues including cases of financial difficulty.

15. We are satisfied that the relevant part of the waiver is being complied with in cases where consumers are claiming they are in financial difficulty at the same time as complaining about unauthorised overdraft charges (the waiver requires complaints about other matters such as financial difficulty to be identified and dealt with in the normal way)(Footnote2). But given the importance we and the BCSB attach to these cases, the FSA will undertake, jointly with the BCSB, thematic review work(Footnote3) to ensure the
processes involved continue to provide appropriate treatment of consumers in genuine financial difficulty who have also complained about unauthorised overdraft charges.

NORMAL WAY???? APPROPRIATE TREATMENT???? SO DELAYING , APPLYING FOR STAYS ,OVERTURNING STAY LIFTS , CONTINUING TO CHARGE AND OFFERING NO ASSISTANCE OTHER THAN "OH YOU CAN CONTACT CCCS" ?????

NOTICE ALSO THEY HAVE USED THE TERM "FINANCIAL DIFFICULTY" AND NOT HARDSHIP , I THINK FINANCIAL DIFFICULTY WILL BE A LOT EASIER TO PROVE IN A LOT OF CASES????


Footnote number 2

2 Consumers experiencing financial difficulties are not automatically entitled to a refund of bank charges, however afirm is required under the Banking Code to deal with the situation sympathetically and positively. We have seen that
firms are making refunds to some customers in financial difficulty, as part of the normal range of approaches used once they have assessed the individual circumstances of each case.

I think we have seen this abused over and over again...............haven`t we?

Footnote number 3

3 In this work the BCSB will lead on the Banking Code requirements and the FSA will lead on compliance with the
relevant waiver conditions and our complaint handling rules.

Also in the FSA site release they clarify that

The review has also clarified the status of small business accounts, which are not covered by the waiver. The FSA has agreed with the firms arrangements to ensure small business customers are not disadvantaged.

At least they have confirmed this to be the case although it does not mention credit card charges , I think we need this highlighting.

They again mention that

The waiver guidance also stated that if we were no longer satisfied as to the above
criteria after two months, or at any time while the waiver remained in force, we
would expect to revoke the waiver.

So if we can keep bombarding them with evidence that the conditions are being repeatedly breached then maybe they will reconsider the waiver again or at least enforce the conditions set.

***IF ANYONE HAS EVIDENCE THAT THE CONDITIONS ARE BEING IGNORED WE NEED TO COLLATE THIS INFORMATION FOR SUBMISSION TO THE FSA***

[EXC]

Re: Waiver Review: No Change

My sentiments entirely. This is what Martin Lewis said recently:


''On the line of credit card cases - I'm working hard to push the FSA to do
something. Both via meetings with the Consumer Panel and the OFT. The
situation is currently ridiculous.

One of the other angles which I've discussed with the FOS is to put a case
to them about 'mishandling of complaint'.

Sadly the only case studies I've got who could do this have had the courts
put a stay on CC reclaiming.

Do any of you know someone whom the credit card company wouldn't deal with
at the earlier stage because "its on hold" if so I should be able to get a
fast case through the FOS''

[Nattie]

Re: Waiver Review: No Change

I don't but I will do some research this evening and find one if one exists.

[thephoenix]

Re: Waiver Review: No Change

If we are looking for the same, I have a friend who will be registering sometime tonight with credit card charges.
Although they haven't even started yet so may not be of much use.