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

[pompeyfaith]

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

Has there been any response from the Government on this subject and if not is there likely to be?

Just I thought there maybe in regard to the bailed out banks

[EXC]

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

Statement from FSA:


The Financial Services Authority (FSA) welcomes the decision by the British Bankers' Association (BBA) and Nemo Personal Finance (Nemo) to accept the High Court's dismissal of their legal challenge to the FSA's payment protection insurance (PPI) measures.

Banks must now get on with handling all PPI complaints and paying redress where appropriate - the FSA stands ready to work with them on the practical implications of this.

Today signals the end of years of poor PPI complaint handling and will trigger a dramatic improvement in the way customers are treated when making complaints. There have been more than 1.5 million complaints made about PPI since the FSA took over regulation of PPI in 2005.


Notes to editors

1. The FSA’s new complaint handling measures were published in Policy Statement 10/12 in August last year. They took effect on December 1 2010.
2. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; securing the appropriate degree of protection for consumers; fighting financial crime; and contributing to the protection and enhancement of the stability of the UK financial system.

[EXC]

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

Complaints should be sent to the original provider first, PF:beagle:

For the sake of clarity it is the seller of the insurance (broker/distributor/intermediary) and not the provider (insurer/underwriter) to whom complaints about the mis-selling of PPI should first be made, where the seller is not also the provider.


The role of insurers and lenders in mis-selling PPI
Concerning provider/distributor responsibilities, where a firm is an authorised general
insurance intermediary, it is not bound, unless by contractual terms, to offer a particular
PPI policy provided by a lender. Indeed, in some cases, doing so may not be treating
customers fairly.37 Distributors are responsible for maintaining a compliant sales process,
and therefore should be responsible for redress, where a failing arose from the manner in
which the product was sold. If brokers feel that undue pressure was placed upon them by
lenders or insurers, they may separately have recourse to the courts if they so choose.

The issues in relation to agency law (e.g. whether the broker is acting (as agent) on the
part of the insured or the insurer (as principal)) are complex and fact specific, depending
on both the individual contractual arrangements between the parties and the specific
facts surrounding a particular sale. Again, brokers may separately have recourse to the
courts if they so choose.

Accordingly, we remain of the view that our Handbook text concerning PPI complaints and
redress is appropriately positioned in its emphasis on the seller of the policy, and we are not
making any changes to it in this regard.

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

[pompeyfaith]

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

http://www.independent.co.uk/news/bu...y-2281588.html

[pompeyfaith]

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

We have also allowed that, unless there are particular imperatives to the contrary,
any own initiative actions by firms toward non-complainants need not commence
until six months after the publication of this PS (i.e. mid Q1 2011).

Above taken from PS10/12 ...... Anyone know what that month is?

[pompeyfaith]

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

Anyone making a claim this FOS form must accompany your letter to the lender.

Is that not what I said, perhaps I did not make it clear enough, apologies

[Angry Cat]

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

Anyone making a claim this FOS form must accompany your letter to the lender.

This will ensure no important info is left out.

Complaints should be sent to the original provider first, PF:beagle:
In any event, "they" should make contact with the consumer if they have reason to beleieve that, the PPI was mis-sold.

Please, give the poor darlings time to get their systems in place...

[pompeyfaith]

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

Anyone making a claim this FOS form must accompany your letter to the lender.

This will ensure no important info is left out.

[Angry Cat]

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

Goodwill gestures...
I am an original MBNA Fan Club member and proud of it and;
a subscriber to the Cabot Fan Club, also.

Not forgetting the RBS Fan Club

[andrew1]

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

Goodwill Gestures as so described in flossies reply from RBS takes me back to the original days of bank charges refunds....can we draw comparisons in the legal connotations of that kind of 'offer'?

[Bill-K]

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

...lets hope they do a better job in enforcing regulation than the FSA and do actually fine those that do not comply.

Some of these would be useful attributes for a change, methinks:-

[pompeyfaith]

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

Soon we turn to the CPMA lets hope they do a better job in enforcing regulation than the FSA and do actually fine those that do not comply.

[pompeyfaith]

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

http://www.guardian.co.uk/business/2...-off-customers

Indeed as at some point your fingers will get burnt.

[Bill-K]

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

Well done to all specially EXC for his legal insight

Indeed, seconded. :beagle:

[pompeyfaith]

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

Di,

It is a thread literally worth its weight in gold as it contains masses of very useful information for which it will go on being read by many.

It also surpasses anything OTR which is fantastic we certainly got a one up over the other forum.

Well done to all specially EXC for his legal insight
------------------------------- merged -------------------------------
Di,

Although we got the ruling we all so much wished for the fun now starts on a personal note to everyone, indeed this is the beginning to the end.

So we must all remain strong and do as we have all been doing and help others

Knowledge is power and that is what the banks hate, but in this 21st century they can no longer fight that aswell as they once could.