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

[Turboman]

Re: Latest updates on PPI Judicial Review and claims on hold

Been pre-occupied with getting sorted to move house lately-so afraid I've not read all this thread nor the judgement paper

So---can I ask:

Will we calculating potential redress based on FOS old guidelines in some cases?

or

Using Appendix 1-4 Handbook as within 10/12 FSA Policy Statement dated August 2010 for all cases?

Thanks
Turbs

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

PPI aside after all this I really hope that banks and businesses in general whether that be retail or otherwise take note of this massive scandel and start treating customers fairly as many many complaints are not given the justice they deserve and I mean complaints as a whole not just financial ones.

Businesses need to understand that a customer base that is content is very important and that will not grow until that happens.

Yes busunesses will always get complaints of one form or another but customers need to see that these are dealt with swiftly and within the TCF as that is what will build custom.

Lets all hope that this is a turning point as customers are still king and not the shareholders.

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

Pressure will now grow on RBS to follow Barclays and it appears likely that it will. The collapse of RBS, also in 2008, means that the Government's stake is even higher than at Lloyds, with the public owning 83pc of the bank.
Senior Treasury sources made it clear on Saturday night that they welcomed Lloyds' move and there appears to be an expectation within the Government that RBS will follow.

The price of bailing out Lloyds and RBS was £10 Billion, I believe.

Time for RBS to show some decency and morality and remember that they were hours away from collapse/insolvency.

All eyes on RBS!

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

Leclerc,

You can share the one I gave to AC above fella lol.

Have my claim for woolwich on the ready to post as they are part of Barclays and I have a sizable some of MPPI with them on an old mortgage.

Anyone know who is the bank for Tesco slipped my mind?

[charitynjw]

Re: Latest updates on PPI Judicial Review and claims on hold

http://www.trendhunter.com/trends/nacho-hat

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

kinda off topic, but I kinda agreed to eat my hat with AC re the appeal.
Does anyone know where to purchase edible hats?

Here you go, leclerc:
http://www.fingertipstv.com/ourmakes...eid=216&step=3

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

kinda off topic, but I kinda agreed to eat my hat with AC re the appeal.
Does anyone know where to purchase edible hats?

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

Here we go as I expected:

Barclays follows Lloyds in dropping PPI legal fight

Barclays Bank is set to abandon the legal fight against personal protection insurance (PPI) mis-selling in a move which is likely to sound the death knell in the judicial battle that has caused controversy across the political spectrum.




By Kamal Ahmed, and James Quinn 7:45AM BST 08 May 2011 Follow Kamal Ahmed on Twitter
1 Comment


Barclays is expected to announce as early as Monday that it will no longer take part in the legal action over the scandal which saw thousands of customers mis-sold PPI they did not need.


Its decision will leave Royal Bank of Scotland and HSBC isolated on the issue. The move by Barclays, personally sanctioned by Bob Diamond, the chief executive, comes two days after Lloyds Banking Group surprised the market and its major competitors by announcing that it was the first of the UK's major banks to pull out of the legal action.

More here:

http://www.telegraph.co.uk/finance/n...gal-fight.html

http://www.telegraph.co.uk/finance/c...I-scandal.html

[andrew1]

Re: Latest updates on PPI Judicial Review and claims on hold

There are plenty of unemployed admin and clerical staff be only too please with some long term temp work to clear these...bet there's a few on here too..I used to supply Finance temps, wouldn't take long to drum up a team to sort this lot out.

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

MBD,

they do think claims will still take a while to resolve due to the backlog, and yes that is there fault not ours

[MBD23]

Re: Latest updates on PPI Judicial Review and claims on hold

The interest compouned thet they have made on those funds is a lot more than 8% out of reinvesting it.

no chance imo - they probably lent the lot to Greece and Ireland

------------------------------- merged -------------------------------
chief executive Stephen Hester said Lloyds' decision might now set a benchmark for future deals on PPI with the FSA.


??? and what would that be - work to the 8 week guidelines or take 6 months to review a claim after it has already been suspended for months?

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

AC,

Indeed lets not forget this is and was a financial wrong and they are not really taking a hit as it is money they should never of had.

The interest compouned thet they have made on those funds is a lot more than 8% out of reinvesting it.

Indeed after any refunds have been paid out they are still quids in, in real terms.

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

Makes ones blood boil, doesn't it?

The Banks are whining about how much they may have to pay out in order to compensate customers who were mis-sold PPI; money they have taken and used elsewhere...

However, one of these banks appear to have forgotten the actual cost of bailing them out:
http://news.bbc.co.uk/1/hi/business/7666570.stm

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

More like £10 Billion, PF

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

After the FSA getting there estimate very wrong and they now saying the hit could be as high as £9 BILLIONS I think that is an under estimate aswell.

The product has been massively sold and many claims are or will be high so I can see this going above the £9 BILLION mark.

RBS are saying there exposure is £1BILLION that is too low for the second biggest seller.