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

[EXC]

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

The point here is, they must still have a large liabilty

I don't think they have. Neither Santander or A&L got so much as a mention in the PPI market share figures in the OFT's report:

PPI Provider Market Share ( per cent)

Norwich Union (Aviva) 19
UKI (RBS Insurance)* 15
Lloyds TSB (Lloyds Group)* 14
St Andrews (HBOS Group)* 13
Barclays Insurance (Barclays Group)*12
Hamilton Insurance (HSBC Group)*12
Cardif Pinnacle 6
Others 9

[NLP]

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

I don't think they have. Neither Santander or A&L got so much as a mention in the PPI market share figures in the OFT's report:

PPI Provider Market Share ( per cent)

Norwich Union (Aviva) 19
UKI (RBS Insurance)* 15
Lloyds TSB (Lloyds Group)* 14
St Andrews (HBOS Group)* 13
Barclays Insurance (Barclays Group)*12
Hamilton Insurance (HSBC Group)*12
Cardif Pinnacle 6
Others 9

others is 9.... i would guess they have plenty of that, either way, they have liabilty and they are being the good guys here.

applaud them ... dont find excuses not to!

[marshallka]

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

Treating customers fairly.................lol

http://www.bba.org.uk/media/article/...a/latest-news/

[marshallka]

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

The BBA have stated their members will continue to handle all PPI complaints in accordance with the FSA (the rule book of 14th Jan 2005). So surely any PPI added 14th Jan 2005 onwards would mean the complaint is going to be looked into....

Lloyds have stated

A Lloyds spokeswoman says: "We will stand by any settlements that have already been made to customers. The court case will not affect those offers.
"However, while the court is considering the issues raised by the BBA, any PPI sales-related complaints will be on hold until further notice. This decision was taken in full consultation with the BBA."

Then Witch today have on their site

On 8 October, the British Banker’s Association (BBA), the trade body that represents the UK’s banks, launched a legal challenge against the financial regulator’s plans for a tougher stance on PPI complaints.
Since then, almost all of the UK banking sector has stated that they will not review complaints affected by the judicial review but any other complaints not affected will be processed as usual.


There is something within this "sales related complaint" thing here.... for complaints to be looked into you would have to actually have another reason... cost of PPI maybe, this would then not be sales related would it??? Am I now barking!!!!

[NLP]

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

The BBA have stated their members will continue to handle all PPI complaints in accordance with the FSA (the rule book of 14th Jan 2005). So surely any PPI added 14th Jan 2005 onwards would mean the complaint is going to be looked into....

Lloyds have stated

A Lloyds spokeswoman says: "We will stand by any settlements that have already been made to customers. The court case will not affect those offers.
"However, while the court is considering the issues raised by the BBA, any PPI sales-related complaints will be on hold until further notice. This decision was taken in full consultation with the BBA."

Then Witch today have on their site

On 8 October, the British Banker’s Association (BBA), the trade body that represents the UK’s banks, launched a legal challenge against the financial regulator’s plans for a tougher stance on PPI complaints.
Since then, almost all of the UK banking sector has stated that they will not review complaints affected by the judicial review but any other complaints not affected will be processed as usual.


There is something within this "sales related complaint" thing here.... for complaints to be looked into you would have to actually have another reason... cost of PPI maybe, this would then not be sales related would it??? Am I now barking!!!!

no you are not barking, but we will have to wait for proper communication from the bba/fsa as to what complaints will be looked into.

i think there is not a cats chance in hell the banks will get away with holding all claims.. maybe they will get away with holding 60-70% of them, which for them is good enough stall tactics.

[leclerc]

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

no you are not barking, but we will have to wait for proper communication from the bba/fsa as to what complaints will be looked into.

i think there is not a cats chance in hell the banks will get away with holding all claims.. maybe they will get away with holding 60-70% of them, which for them is good enough stall tactics.

Hopefully we will read what their complaint is about, get some advice as to what complaints it does affect and then we will know which complaints that they will no deal with. I am still interested is WHY they can put on hold complaints without a waiver being put in place.

To anyone, is there a legal reason to be able to do this when the FSA has NOT issued a waiver and the FOS will continue to adjudicate under the rules that they are challenging judicially?
------------------------------- merged -------------------------------
Publications - Guidance - Administrative Court


Do you think the FSA will release or have they already done so, the letter they sent prior to seeking a judicial review?

[marshallka]

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

no you are not barking, but we will have to wait for proper communication from the bba/fsa as to what complaints will be looked into.

i think there is not a cats chance in hell the banks will get away with holding all claims.. maybe they will get away with holding 60-70% of them, which for them is good enough stall tactics.

I don't think there will be proper communication from the BBA, in fact I think its just very clever wording they have given and its up to the consumer to find out what complaints are likely to be looked into.. ??

[pompeyfaith]

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

leclerc

Hopefully the judge will see shortshift of there tactics and it will backfire

[NLP]

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

leclerc

Hopefully the judge will see shortshift of there tactics and it will backfire

yup, there is the outside chance is does not even go to a JR and is dealt with arbitarily out of the high court.

one bank totalling distancing themselves from this is massive, huge... and should not be sniffed at!

if they knew they had a chance, they would ALL be in on it!

it's a pure delay tactics shot, hoping to send some claims comps under in the meantime... which aint the worst thing.

[marshallka]

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

Was this posted yesterday

Not too sure so please remove if it was

http://www.bba.org.uk/media/article/ppi-factsheet

Here is the key wording
What is the case about?

This judicial review is not simply about PPI: it is about the ability of the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS) to apply new standards to old sales.
The FSA recently published a policy statement and open letter to the industry advising they should consider complaints about PPI not just by reference to the detailed conduct of business rules which applied at the time but also to standards that are based on the FSA’s guiding principles for doing business. The BBA has applied to the Courts for a judicial review of (i) the FSA’s approach contained in its policy statement, and (ii) the Financial Ombudsman Service’s approach to PPI sales complaints contained in its guidance


We believe the FSA is effectively creating a precedent which permits it to apply new rules to previous sales – even where those sales were regulated by other FSA rules.
Therefore this ruling might not only affect customers who have bought PPI, but might also set a precedent that could affect all products regulated by the FSA

[The Debt Star]

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

leclerc

Hopefully the judge will see shortshift of there tactics and it will backfire

you fail to recognise that His Honour Sir Ponsonby Squint is playing bridge with Sir Malcolm Twatface of Lloyds TSB on Thursday evenings

[NLP]

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

you fail to recognise that His Honour Sir Ponsonby Squint is playing bridge with Sir Malcolm Twatface of Lloyds TSB on Thursday evenings

indeed.

[nelliewops]

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

you fail to recognise that His Honour Sir Ponsonby Squint is playing bridge with Sir Malcolm Twatface of Lloyds TSB on Thursday evenings

Love it

[whizzkid001]

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

Don't all get too down about this - http://www.claimsnational.co.uk/latest-news/CN1024.html

[di30]

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

I know its the same old news......


http://www.claimscouncil.org/news/20...egal-challenge
FSA forges ahead with PPI rules despite legal challenge

14/10/2010

The FSA has insisted it will press ahead with new rules for handling payment protection insurance (PPI) mis-selling complaints, despite a legal challenge by the British Bankers Association (BBA).
In a consultation document published in August, the FSA updated the rules to bring them in line with its business conduct guidelines. This included controversial proposals that mis-selling will have occurred if “reasonable care” has not been taken to ensure policies are “affordable in light of customers’ income and outgoings”.
The FSA said it aimed to start implementing the new rules on 1 December. The BBA hopes the case will be heard by early 2011.