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

[leclerc]

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

You're confusing the 'open letter' in the August 2010 Policy Statement (referred to in the BBA October 2010 guidance ) with the FSA's letter to Trade Associations of January which is what Class Act is talking about.

http://www.fsa.gov.uk/pages/consumer...ppi_letter.pdf

AFAIK the BBA have not issued further guidance since the FSA January letter.

I stand corrected and I did double check with the BBA.


"The BBA factsheet concerning PPI is not a response.
And we have not produced any reply to this particular letter."

[ncf355]

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

Anyone elsee seen THIS "Problems with the FOS" website?

[leclerc]

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

Anyone elsee seen THIS "Problems with the FOS" website?

yes, and there is a whole thread here about that website.

EDIT: Financial Ombudsman problems. - Legal Beagles Consumer Forum

[ncf355]

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

Whoops!

Sorry

[Class Act]

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

I stand corrected and I did double check with the BBA.


"The BBA factsheet concerning PPI is not a response.
And we have not produced any reply to this particular letter."

Like i said, virtually all complaints are on hold regardless of the circumstances of any particular case.

I know the FSA are onto this, but like i said previously, enforcement takes time.

EXC, any update from your guy Tom on hand down?

[EXC]

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

EXC, any update from your guy Tom on hand down?

Sorry, no. But rest assured I'll let you know when there is.

[AndyRogers]

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

Must be nice to get a real letter from Lloyds TSB. I have only received one letter acknowleding my complaint, since then I have contacted them by phone several times. If this is an example of Customer Care then it makes you wonder, although hopefully soon the teflon answer will be removed from the reply! The one thing that really bites is that they had already messed me around for nearly 16 months saying they had no record of a loan account. Cute as a cart load of monkey's that bunch.

I know it will be some time before we hear of any decision, but thought I would see what lloyds would say anyway, so I sent them an email earlier, and this is the response received.

Thank you for your e-mail sent on the 28th March 2011.

Unfortunately a date has not yet been given as to when a decision will be made. Please do not hesitate to contact the Customer Care department on 0845 300 5599 if you wish to discuss the matter in further detail.

Kind regards,

Lloyds TSB Customer Care.

[cappo]

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

Must be nice to get a real letter from Lloyds TSB. I have only received one letter acknowleding my complaint, since then I have contacted them by phone several times. If this is an example of Customer Care then it makes you wonder, although hopefully soon the teflon answer will be removed from the reply! The one thing that really bites is that they had already messed me around for nearly 16 months saying they had no record of a loan account. Cute as a cart load of monkey's that bunch.

your right andy they,ve been giving our poor di the right run around monkeys is a more polite word than i,d use banker rhymes with ?@%$&*:beaglesorry budgie/ame)

[EXC]

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

This seems to be a candidate for the next mis-selling scandal - identity theft insurance.

When your card provider issues a new card it instructs you to call a number to 'activate' it. But it turns out that the number isn't that of the card provider but a ID theft insurance outfit, usually CPP, who give you the hard sell or just load you with the insurance anyway.

This was reported by the BBC in November
BBC News - Row over ID theft insurance

But it looks like the FSA are on the ball with this as they have forced CPP to suspend further sales pending an investigation.
BBC News - CPP shares plunge on FSA investigation
FT.com / Companies / Insurance - CPP shares dive after FSA launches inquiry

What the articles don't report is that CPP are now moving into PPI and I suspect that they'll attempt to circumvent the Competition Commission's 7 day ban on PPI at the point of the sale as the time that the 'activation' procedure occurs is well after the credit sale.

[cappo]

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

This seems to be a candidate for the next mis-selling scandal - identity theft insurance.

When your card provider issues a new card it instructs you to call a number to 'activate' it. But it turns out that the number isn't that of the card provider but a ID theft insurance outfit, usually CPP, who give you the hard sell or just load you with the insurance anyway.

This was reported by the BBC in November
BBC News - Row over ID theft insurance

But it looks like the FSA are on the ball with this as they have forced CPP to suspend further sales pending an investigation.
BBC News - CPP shares plunge on FSA investigation
FT.com / Companies / Insurance - CPP shares dive after FSA launches inquiry

What the articles don't report is that CPP are now moving into PPI and I suspect that they'll attempt to circumvent the Competition Commission's 7 day ban on PPI at the point of the sale as the time that the 'activation' procedure occurs is well after the credit sale.

it makes you wonder whether these financial institutions/banks have any shame whatsoever doesn,t it?






Stop paying for pointless cover - Yahoo! UK & Ireland Finance

[EXC]

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

FSA have published latest complaints data for H2 2010.

FSA publishes complaints data

Complaints data

[pompeyfaith]

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

Latest press article from the Mail:

http://www.dailymail.co.uk/money/art...=feeds-newsxml

[leclerc]

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

This seems to be a candidate for the next mis-selling scandal - identity theft insurance.

When your card provider issues a new card it instructs you to call a number to 'activate' it. But it turns out that the number isn't that of the card provider but a ID theft insurance outfit, usually CPP, who give you the hard sell or just load you with the insurance anyway.

This was reported by the BBC in November
BBC News - Row over ID theft insurance

But it looks like the FSA are on the ball with this as they have forced CPP to suspend further sales pending an investigation.
BBC News - CPP shares plunge on FSA investigation
FT.com / Companies / Insurance - CPP shares dive after FSA launches inquiry

What the articles don't report is that CPP are now moving into PPI and I suspect that they'll attempt to circumvent the Competition Commission's 7 day ban on PPI at the point of the sale as the time that the 'activation' procedure occurs is well after the credit sale.

And most payments for it was taken in the usual way, ie repetitive payments off the card. However, now most banks are wrapping up that type of insurance within useless packaged accounts(can you tell I am not a fan ).

[debtisbad]

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

And most payments for it was taken in the usual way, ie repetitive payments off the card. However, now most banks are wrapping up that type of insurance within useless packaged accounts(can you tell I am not a fan ).

Excellent observation, lecrlerk. Mis-selling is becoming so prevalent in the banking sector that we are now starting to find out about it sooner, as you had done here.

Perhaps now people may be suspicious EVERY TIME their bank of one of their associate companies pitches them for any form of selling!

[EXC]

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

The FOS have frozen the £500 case fee but are raising an additional £25m through the FSA under a Compulsory Jurisdiction levy.

In the meantime it's off to the bank for an overdraft:

''PPI is the latest example of volatility in the volume and type of complaints referred to us – as a result of systemic failures in the financial services industry. So far as this type of volatility causes our income from case fees to be delayed, it may be appropriate to bridge the gap in our income with a bank overdraft.''

our plans and budget for 2011/12 – finalised and approved


''We asked stakeholders whether they believed that volumes of complaints about PPI sales would rise or fall – and to what level. We proposed to plan on the assumption that we would receive around 60,000 PPI cases (plus or minus 20%) in 2011/2012.

Businesses responding to our consultation agreed that a fall in PPI complaints was unlikely – and that complaint volumes would remain high, or rise further. The key uncertainty, however, was what would happen to complaint numbers, and to the behaviour of the parties involved, once the outcome of the current legal challenge (the British Bankers Association’s judicial review of PPI-related matters) was known.

Responses to our consultation recognised that our workload in this area had the potential either to rise or fall significantly, depending on the outcome.

In the light of this feedback, we have assumed in setting our budget for 2011/2012 that we will receive around 60,000 PPI cases. However, we agree that there is a real risk that actual volumes could be significantly higher or lower than this – depending on the outcome of the judicial review and on the actions of the banks and other businesses supporting this legal challenge.''