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

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

    [QUOTE=Angry Cat;203688]http://www.towersperrin.com/tp/getwe...2002042906.pdf

    For the benefit of those who wish to know:

    RE: MBNA 2001 PPI

    ASSOCIATION OF BRITISH INSURERS' CODE OF PRACTICE

    This insurance has been arranged by the Bank (MBNA) as Our agent for whom We accept responsibility.
    The Bank (MBNA) has undertaken to comply with the Association of British Insurers' Code of Practice for the Selling of General Insurance. A copy of the Code of Practice is (was) availbale for inspection on request."

    ADMINISTRATION



    Norwich Union Life & Pensions Limited has agreed that London & Edinburgh Insurance Company Limited may administer this insurance on its behalf.(issue date: 2001)

    Note that MBNA later changed their PPI insurer to, St Andrews Insurance in 2004:
    http://www.competition-commission.or...mmary_mbna.pdf[/QUOTE






    nothings coming up ac i shouid be able to get pdf,s it,s a mystery

    Comment


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

      Yes both are pdf's and both work

      Comment


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

        Originally posted by Angry Cat View Post
        Yes both are pdf's and both work


        probably my computer it,s been playing :tinysmile_hmm_t2:up lately


        it,s now come up AC thanks

        Comment


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

          Originally posted by leclerc View Post
          Banks should process claims but the BBA view is different to that viewpoint, ie process to conclusion and payout only cases that are outside of the JR process.
          Well they would have that viewpoint wouldn't they?

          Simple fact of the matter is virtually all complaints made since Oct have been put on "hold" and that includes clear ICOB/ICOBS breaches, something which the JR has nothing to do with.

          We all know that the BBA is using the JR as an excuse to park ALL complaints. Simple.

          I suspect big fines will be forthcoming over the next few months, however what will a few million quid mean to L/TSB, HSBC and the like...while the consumer suffers yet again!!!!!

          Comment


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

            Originally posted by Class Act View Post
            Well they would have that viewpoint wouldn't they?

            Simple fact of the matter is virtually all complaints made since Oct have been put on "hold" and that includes clear ICOB/ICOBS breaches, something which the JR has nothing to do with.

            We all know that the BBA is using the JR as an excuse to park ALL complaints. Simple.

            I suspect big fines will be forthcoming over the next few months, however what will a few million quid mean to L/TSB, HSBC and the like...while the consumer suffers yet again!!!!!
            i think it all boils down to the fact that the banks have been ripping us all off without mercy or shame for years,they,ve gone against there and the regulators own codes of conduct i for one will be watching the result of this j.r very closely. as i,m sure you all will, will it be a victory for the man in the street or will it be a whitewash, i think banks have lost a lot of credibility either way.

            Comment


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

              Still no listing yet but watch this space.


              Originally posted by Tom Brennan View Post
              There is still no date yet for the handing down of judgment. I'm calling Justice Ousley's clerk on a daily basis, and will do so tomorrow and Friday. I'll give you a call if I hear anything.

              Comment


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

                Originally posted by Class Act View Post
                Well they would have that viewpoint wouldn't they?

                Simple fact of the matter is virtually all complaints made since Oct have been put on "hold" and that includes clear ICOB/ICOBS breaches, something which the JR has nothing to do with.

                We all know that the BBA is using the JR as an excuse to park ALL complaints. Simple.

                I suspect big fines will be forthcoming over the next few months, however what will a few million quid mean to L/TSB, HSBC and the like...while the consumer suffers yet again!!!!!
                i agree class act mine have now all been put on hold and have nothing to do with the j.r, the banks have got there heads together and i really believe the bankers think there,s safety in numbers

                Comment


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

                  our old friend angie having a rant about the unfairness of being picked on by the regulator/customer


                  BBA - The voice of banking and financial services - Media - Article - Cbi Senior Executive Lunch Birmingham - Speeches
                  Last edited by cappo; 17th March 2011, 00:01:AM.

                  Comment


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

                    PMSL

                    ''Charter UK engage with the finance industry’s biggest companies to help them manage their customer complaints and feedback in a way that benefits the whole business. We understand the needs of the industry and have developed a specialist package to help you deal with PPI Remediation quickly and efficiently.''

                    ''The ‘PPI configured’ solution, part of Charter Continuum, is targeted solely at UK financial services organisations preparing to execute a large scale customer contact and remediation program, having identified a potential breach of the FSA principles in relation to advised sales of single premium PPI (Payment Protection Insurance) policies.
                    ''

                    http://www.charter-uk.com/pdfs/Chart...Case-Study.pdf

                    And who will be sponsoring the BBA's Complaints Seminar in May? Step forward Charter UK.

                    BBA - The voice of banking and financial services - Events And Training - Event - Complaints Seminar1

                    Comment


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

                      Originally posted by EXC View Post
                      PMSL

                      ''Charter UK engage with the finance industry’s biggest companies to help them manage their customer complaints and feedback in a way that benefits the whole business. We understand the needs of the industry and have developed a specialist package to help you deal with PPI Remediation quickly and efficiently.''

                      ''The ‘PPI configured’ solution, part of Charter Continuum, is targeted solely at UK financial services organisations preparing to execute a large scale customer contact and remediation program, having identified a potential breach of the FSA principles in relation to advised sales of single premium PPI (Payment Protection Insurance) policies.
                      ''

                      http://www.charter-uk.com/pdfs/Chart...Case-Study.pdf

                      And who will be sponsoring the BBA's Complaints Seminar in May? Step forward Charter UK.

                      BBA - The voice of banking and financial services - Events And Training - Event - Complaints Seminar1
                      sounds like the dwp exc decisions via a computer program,great,who,ll be the losers there,surprise surprise.

                      Comment


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

                        have you had your dinner yet tonight well what about this tasty treat,see below


                        Top 10 banking stories of 2010 - in pictures - Telegraph

                        Comment


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

                          Article from The Times:



                          ''Consumers mis-sold payment protection insurance (PPI) may have to wait more than a year for compensation after the Financial Ombudsman Service (FOS) said that a judicial review brought by the banks has led to a dramatic jump in its workload.
                          In a letter sent to the bosses of claims management companies, which fight for refunds for consumers, Nathan Horner, head of the team handling PPI claims at the FOS, writes: “The court action is leading to delays both for cases that are directly affected and other complaints about the sale of payment protection insurance.

                          “Unfortunately this means there will be a delay in progressing the PPI complaints you have with us. While I am not able to give you a timeframe at this stage, I’m afraid some cases are likely to take over a year to be resolved depending on when and how the legal action is concluded.”


                          The letter refers to a judicial review brought by the banks against the Financial Services Authority and Financial Ombudsman Service, which began in the High Court in January.


                          A number of banks, including Lloyds, Barclays and HSBC, have put complaints on hold pending the outcome of the review. The FOS said the freeze on claims had forced more consumers to push complaints its way - it has received 43,000 PPI complaints since Christmas compared to 49,196 cases in the whole of the last financial year.


                          A spokesman for the FOS said: “The ombudsman is continuing to deal with PPI cases - and consumers can still refer their complaint to the ombudsman service if they feel they’ve not been dealt with fairly by the financial business involved.
                          “While up to now we’ve been able to resolve the majority of PPI cases within six months, due to the ongoing legal challenge by some banks - and the way that these businesses are dealing with complaints - it is likely that cases will take longer to sort out moving forward. This does not affect the way that the ombudsman service is dealing with complaints about any other issue.”

                          The judicial review centres on a complaint by the British Bankers Association (BBA) that new rules introduced by the FSA governing the way PPI is sold will be used to assess complaints about policies that were taken out before the new regime came in. It also does not like the way the FOS is using the new rules when it assesses complaints that have been referred to it by consumers.


                          It is unclear when the outcome of the case will be known, but it is not expected this month.


                          PPI is an insurance policy taken out alongside credit cards, mortgages and loans to cover monthly repayments if the holder is ill or loses their job. It has been engulfed in a mis-selling scandal in recent years after it became apparent that lenders were often not bothering to check whether a customer would be eligible to claim. In other cases customers were wrongly told that they had to buy the insurance to be able to take out a loan, or the policy was added to the cost of the loan without the customer even being told.


                          Daniella Lipszyc, and director of law firm Ultimatelawltd.com, said: “The banks are doing everything they can to skirt around the issue. For example, a lender recently agreed that it had mis-sold a PPI policy to a client of mine, but would not pay compensation until after the outcome of the judicial review. Three months later, my client received a compensation payment from the lender.


                          “Although it was good news for my client, it shows that the whole system is in a mess and that most lenders will continue to hide behind the judicial review for as long as possible. Even if the judgment goes against the banks, I’ve no doubt they’ll appeal, thus delaying the handling of complaints even further.”


                          Potential claimants should remember that the FOS is free, but claims management companies will charge a fee for their services''

                          Comment


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

                            So, again, someone needs to kick arse somewhere to get the banks to start processing claims in a fair and reasonable manner (both during and after the JR)
                            Last edited by ncf355; 18th March 2011, 18:04:PM.

                            Comment


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

                              It's disappointing that the FOS felt concerned enough to write to Claims Management Companies about the delays but not individual claimants.

                              Comment


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

                                Originally posted by EXC View Post
                                It's disappointing that the FOS felt concerned enough to write to Claims Management Companies about the delays but not individual claimants.
                                consumers are always the last to know EXC.

                                Comment

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