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

[cappo]

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

I just checked with listings office and NO DATE has yet been set for handing down

it,s a case of ear to the ground one of us on here is going to hear something sooner or later can,t be much longer now the pointer seems to be end of march-easter.

[Budgie]

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

I just checked with listings office and NO DATE has yet been set for handing down

[di30]

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

I was recently informed by Lloyds that I would hear an update by or before the 16 April, but I'm just expecting the usual response that many others been receiving.
I will post up the details when the letter is received.

[leclerc]

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

No.

Might be untrue, but thought i would ask.

Budgie asked the question "where did you hear the rumour?"

[seller 17]

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

Are you confusing last Thursday's Competition Commission report on PPI with the judicial review on PPI?

No.

Might be untrue, but thought i would ask.

[di30]

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

Not heard anything definate yet, but going by what banks have posted on Q&A about PPI complaints is this below, but nothing concrete, as here below via lloyds tsb.
It just states the JR is anticipated to be completed by the end of March, in which afterwards they will be able to assess the complaint, but this does not mean its actually completed as such.


I have received a letter telling me about BBA/FSA/FOS – I don’t understand it?
A number of customers are being sent a letter detailing how the ongoing Judicial Review has affected our complaint handling and how we may only be able to assess your complaint once this review is concluded. The Judicial Review is anticipated to be completed by the end of March 2011. After that time, we will then be able to fully assess your complaint and tell you the outcome.

http://www.lloydstsb.com/payment_pro...complaints.asp

[leclerc]

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

I have heard a rumour that judgement will be passed down this Thursday. Can anyone confirm this?

Are you confusing last Thursday's Competition Commission report on PPI with the judicial review on PPI?

[Budgie]

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

Where did the rumour originate ?

[seller 17]

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

I have heard a rumour that judgement will be passed down this Thursday. Can anyone confirm this?

[cappo]

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

http://www.ifaonline.co.uk/ifaonline...evy-hike-looms

surprise surprise eh p.f the banks will do anything to avoid paying out

[pompeyfaith]

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

http://www.ifaonline.co.uk/ifaonline...evy-hike-looms

[EXC]

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

FOS minutes for board meeting held on 1 Febuary, published today.

http://www.financial-ombudsman.org.u...es-feb2011.pdf

The deputy decisions & legal director provided an update about the Judicial
Review hearing that had taken place between 25 and 28 January. She added
that judgment was expected within the next four to six weeks. The board
thanked the decisions director, the deputy decisions & legal director and their
teams for all the hard work they had put into making extensive preparations
for the hearing.

The board noted the ongoing discussions between the Ombudsman Service
and the FSA about how the new ‘section 404’ powers were to be used by the
FSA, particularly where used for a single firm redress approach.

It was noted that work towards achieving the key priorities for 2010/11 was
generally on track, and that progress had been made against key indicators.
The break-even financial position for the third quarter was noted (excluding
the one off payment to an exiting contractor), although the board also noted
that this would be under pressure in future months given firm behaviour over
payment protection insurance (PPI) complaints.

The operations director reported that complaints about PPI had increased in
recent weeks, from about 2,500 to 5-6,000 per week. This had inevitably put
pressure on operational systems (which, until recently, had been achieving
improved results). The impact of the operational pressure was being
addressed, whilst maintaining service standards for complaints about all
other issues, or continuing to improve them. He added that the benefits of
team working were becoming apparent, although the pressure of the
increasing numbers of PPI cases had obscured this to some extent.

[cappo]

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

it says it all doesn,t it, nothing we did,nt know but interesting all the same

http://www.independent.co.uk/news/bu...s-2254950.html

[NLP]

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

Somebody on here said it was being fast tracked... a few months back... not me guv!

It's a fair cop.
------------------------------- merged -------------------------------
On a side note... I am aware that cases are not being put on full hold as many are suggesting... many of the high st lenders are starting to clear out pipelines of cases... slow.. but certainly not fully on hold.

[Class Act]

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

Leclerc is the spelling .

BBA - The voice of banking and financial services - Media - Article - Ppi Factsheet - Press Pack



"The FSA‘s policy statement and open letter to the industry advised that banks should consider complaints about PPI in two ways. First, by reference to the detailed conduct of business rules which applied at the time the sale was made. And second, according 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."

Oop's sorry for the spelling!

I dont believe the effects of redress can have an impact. Some cases are being paid out by certain firms with wording to state that if the outcome of the JR is that it effects the method of calculation, then we will contact you again with any additional payments. I think the FSA letter in Jan touches on this and the effect is mainly to paying out on a claim for sickness etc . (page 3 para 3)

From my information fines will be forthcoming, but these things take time and they have to go down certain routes etc. I think I was a little rash and unfair with my earlier comments about the FSA, but it seems the Banks are calling the shots!

Its plainly obvious that the Banks are holding everything and playing a game with this. Its probably to wipe out CMC's and so if they can defeat route cause analysis through the JR as well, its job done!