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

[leclerc]

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

Have you a link to this please? As I am having huge problems getting information of substance from MBNA via phone?

Thanks

MBNA are not the same thing to be honest. MBNA website is of the websites referring to the old info

[SoapyBubbles]

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

Bank Of America have updated their site so well done to them.

Have you a link to this please? As I am having huge problems getting information of substance from MBNA via phone?

Thanks

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

what this means is that they assessed it with the old rules, now that the JR is over and won they have to assess with due regard to ICOBS.

Great, thanks PF. I'll get in touch with 'em.

[EXC]

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

DS,

IMNO, what this means is that they assessed it with the old rules, now that the JR is over and won they have to assess with due regard to ICOBS.

Regards

The banks have always had to have regard to ICOB and ICOBS. The JR now means that they also have to have regards the Principles.

For example - from the judgment:

''There is no specific ICOB rule which prohibits the selling of a PPI policy to someone who can never claim under it, even where the seller knows that to be the case. Such conduct would be covered by Principles 1, 3 and 6.''

I suspect that First Direct were saying that in their view there was no breach of ICOB or ICOBS but there could have been a breach of the Principles.

[leclerc]

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

Many of the smaller providers ie not the big four banks are still referring to this page of the BBA website: BBA - The voice of banking and financial services - Media - Article - Payment Protection Insurance Complaints Handling

That is wrong since they should be referring people to this webpage:

BBA - The voice of banking and financial services - Media - Article - Ppi Factsheet
------------------------------- merged -------------------------------
Bank Of America have updated their site so well done to them.

[pompeyfaith]

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

DS,

IMNO, what this means is that they assessed it with the old rules, now that the JR is over and won they have to assess with due regard to ICOBS.

I would phone them to verify this is the case.

Regards

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

Hi. When I got this response after the JR but before the banks threw in the towel...

"We have now reviewed your complaint against the requirements that we believe applied at the time of the sale in question. Having done so, we are satisfied that the PPI was sold in accordance with those requirements. For this raeson in normal circumstamces we would reject your claim.


"However, until the Court Action has been finally determined, we are unable to provide a final response to your complaint.

"This is because if the judgement is not appealed or of the Court confirms that firms are required to follow the approach set out by the FSA, we would need to review your complaint and it is possible that we may uphold your complaint."

Does anyone have any idea what this now means for my claim? Are First Direct still likely to bounce the claim? Or does the JR impact upon the criteria against which they would have bounced it?

Goes without saying that I have heard 'owt from First Direct. I am interested to know what FD are now obliged to say?

[leclerc]

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

am currently chasing up RBS Group response or specifically the information to provide to their customers complaining about PPI. Santander have the info up, so does Lloyds Banking Group and so does Barclays. Currently awaiting RBS Group and HSBC's information so that we have at list the big four.

Not sure if anyone else wants to chase up perhaps, Capital One and other main providers outside of the big 4 so that the process is clear and straight forward for those still yet to claim

[pompeyfaith]

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

He might be unpopular amongst the bankers but he's a hero to the consumer. Well done sir.

Indeed, it is not the bankers he has to appeal to but the masses as in the consumer.

He is also being seen to build business so the shareholders will not worry to much ok Lloyds has taken a hit for now but it was a good hit as business should build from it.

[cappo]

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

Just spotted this on FT. Interesting take on things.
"Mr António Horta-Osório is today probably the most unpopular man in the UK financial community. Not because of the misconduct at his bank, which he has only just joined, but because he has acknowledged that misconduct. His competitors feel he has let the side down, and have abandoned their own defence."

FT.com / Comment / Op-Ed Columnists - Cautionary lessons on ethics from yet another bank fiasco

He might be unpopular amongst the bankers but he's a hero to the consumer. Well done sir.

i agree morpheus he,ll be remembered by consumers as being one of the few genuine bankers and honourable men out there,it took a rational act by a man who did,nt subscribe to the viper mentality that the rest of the bank ceo,s seem to find so easy to slip into and i predict that Lloyds tsb will come out as one of the most trusted of the "big four" banks for this action,undoubtabley if Ltsb had,nt thrown in the towel there wouid have been an appeal

[morpheus]

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

Just spotted this on FT. Interesting take on things.
"Mr António Horta-Osório is today probably the most unpopular man in the UK financial community. Not because of the misconduct at his bank, which he has only just joined, but because he has acknowledged that misconduct. His competitors feel he has let the side down, and have abandoned their own defence."

FT.com / Comment / Op-Ed Columnists - Cautionary lessons on ethics from yet another bank fiasco

He might be unpopular amongst the bankers but he's a hero to the consumer. Well done sir.

[cappo]

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

It would have been more required if this had not come to an end, or it would have taken them double the time, as stated via Lloyds it could take up to the end of the year as it stands now.
Come on folks, any offers? go on help them out LOL.

lets go in mob handed guys and sort it out we couid show them a thing or two,i think the compo shouid come out of the chairmens bonuses

[EXC]

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

The FSA has issued a further statement:


Firms accept High Court's PPI ruling
On 9 May 2011, the British Bankers’ Association and Nemo Personal Finance Limited decided not to appeal against the High Court’s payment protection insurance (PPI) judgment.

Last month, the Court dismissed their legal challenge to the measures we introduced to ensure that customers are treated fairly when complaining about the sale of a PPI policy.

What this news means for your complaint
This is the end of the legal process and firms must now get on with handling all PPI complaints and paying money back to customers, where appropriate.

If you are awaiting a final response to your complaint or have previously received an ‘on hold’ response, your firm should contact you shortly. If you are still to make a complaint, you should contact your firm directly.

If you have already complained but are not happy with the outcome or how your case was handled you can take your complaint to the Financial Ombudsman Service.

The ombudsman provides a free and independent service for settling disputes between firms and their customers. You must contact it within six months of receiving a response from your firm about your PPI complaint.

In addition, the ombudsman has a template to register a complaint about PPI, which you can send to the firm that sold you the policy.


More about PPI
See our previous update for more information about the court case and our PPI measures.




Firms accept High Court's PPI ruling

[di30]

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

http://www.dailymail.co.uk/money/art...nce-prize.html

Now claims vultures swoop to target £2bn payment protection insurance prize


Last updated at 12:04 AM on 11th May 2011



The banks’ humiliating defeat over the mis-selling of payment protection insurance could create a ‘feeding frenzy’ among claims handlers scenting a potential £2  billion jackpot.

The stark warning comes from the influential Financial Services Consumer Panel, which joined other leading consumer groups to urge victims of PPI mis-selling to steer clear of these controversial firms.

Claims handlers offer to pursue the complaints on a client’s behalf — often on a ‘no win, no fee’ basis. They can pocket 20 pc to 40 pc of any redress and compensation.



More in relation to the above story on the link above.

Here's what you should be doing now

• Do you have PPI? Check any paperwork on your loan or contact the lender. It should send you copies of the sales documents if you don’t have them. When PPI is attached to a credit card, you should be able to see any payments taken for it on your statements. You may be able to cancel it immediately — contact your credit card provider.
• Check the small print. You may have been mis-sold if you were too old to make a claim, did not have a job when you took out the loan, were self-employed, did not need PPI because you had other protection, or it was added to your loan and you did not know you were being charged interest on it.
•  If you have already lodged a complaint against Lloyds TSB, Halifax or Bank of Scotland — all part of Lloyds Banking Group — you don’t have to do anything. They will contact you as soon as they have dealt with your complaint. If you think you were mis-sold PPI but haven’t complained, contact Lloyds TSB on 0845 300 5599 or Halifax and Bank of Scotland on 0845 725 3519.
• If you believe you were mis-sold by another bank, complain directly to them. Set out clearly and briefly why you think you were mis-sold and what you want. For example, you might want a refund of your premiums and any extra interest you may have repaid on your loan.
• If you have any original sales documents then send copies.
• If your complaint is rejected or you haven’t heard back within eight weeks, contact the Financial Ombudsman Service on 0300 123 9123 or 0800 023 4567 (Financial Ombudsman Service).

[di30]

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

So its a matter of time now - waiting for someone to post up with success of their PPI since the hold ups, that was held up due to the JR.