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

[pompeyfaith]

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

http://www.independent.co.uk/news/bu...y-2281588.html

[EXC]

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

Complaints should be sent to the original provider first, PF:beagle:

For the sake of clarity it is the seller of the insurance (broker/distributor/intermediary) and not the provider (insurer/underwriter) to whom complaints about the mis-selling of PPI should first be made, where the seller is not also the provider.


The role of insurers and lenders in mis-selling PPI
Concerning provider/distributor responsibilities, where a firm is an authorised general
insurance intermediary, it is not bound, unless by contractual terms, to offer a particular
PPI policy provided by a lender. Indeed, in some cases, doing so may not be treating
customers fairly.37 Distributors are responsible for maintaining a compliant sales process,
and therefore should be responsible for redress, where a failing arose from the manner in
which the product was sold. If brokers feel that undue pressure was placed upon them by
lenders or insurers, they may separately have recourse to the courts if they so choose.

The issues in relation to agency law (e.g. whether the broker is acting (as agent) on the
part of the insured or the insurer (as principal)) are complex and fact specific, depending
on both the individual contractual arrangements between the parties and the specific
facts surrounding a particular sale. Again, brokers may separately have recourse to the
courts if they so choose.

Accordingly, we remain of the view that our Handbook text concerning PPI complaints and
redress is appropriately positioned in its emphasis on the seller of the policy, and we are not
making any changes to it in this regard.

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

[EXC]

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

Statement from FSA:


The Financial Services Authority (FSA) welcomes the decision by the British Bankers' Association (BBA) and Nemo Personal Finance (Nemo) to accept the High Court's dismissal of their legal challenge to the FSA's payment protection insurance (PPI) measures.

Banks must now get on with handling all PPI complaints and paying redress where appropriate - the FSA stands ready to work with them on the practical implications of this.

Today signals the end of years of poor PPI complaint handling and will trigger a dramatic improvement in the way customers are treated when making complaints. There have been more than 1.5 million complaints made about PPI since the FSA took over regulation of PPI in 2005.


Notes to editors

1. The FSA’s new complaint handling measures were published in Policy Statement 10/12 in August last year. They took effect on December 1 2010.
2. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; securing the appropriate degree of protection for consumers; fighting financial crime; and contributing to the protection and enhancement of the stability of the UK financial system.

[pompeyfaith]

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

Has there been any response from the Government on this subject and if not is there likely to be?

Just I thought there maybe in regard to the bailed out banks

[stevesouth33]

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

I spoke to M&S Money this morning and they told me that my complaint was still on hold pending instruction from HSBC.

I spoke to Mint (RBS) this morning and they told me that my complaint was still on hold pending them receiving clarity around how they shoudl handle claims.

Both of them said that they were dealing with complaints in chronological order and both of them said I should hear from them "very shortly".

Interesting that they language and message vary so slightly from two completely different organisations, feels like its the usual story of them either fumbling around trying to rid themselves of the shock of the BBA not appealing or they are waiting on divine intervention.

[Garlok]

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

Hi PF,

I would have thought "no response" from the idiots in the Palace of Westminster would be a correct assumption. Their paymasters have told them to play it all down as purely a judicial decision is my humble opinion.

regards
Garlok

[leclerc]

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

The media trying to shift the blame now lol anything for a sale

http://blogs.telegraph.co.uk/finance...e-ppi-scandal/

I don't think that is what he is saying. I think he is saying that if a bank does not provide what you want then tell them to take a hike a move your business elsewhere. Given that it is The Telegraph, I would assume that their readers would have the ability and income to be able to do so but not everyone is as fortunate. In fact I thought his last sentence was quite interesting:

"But if the regulators really want better behaviour, they should force banks that pay directors a bonus to also impose a malus, or massive personal fines, for those in charge of institutions which are found to have ripped off their customers. The FSA does not seem to want to act on this modest proposal but, if not, why not?"
------------------------------- merged -------------------------------
I have to say that lloyds were quick to put the information in the public domain on their website. I'm not sure whether they chose to not appeal a lot earlier that the other banks but most of the rest are pretty shoddy so far in their information.

[pompeyfaith]

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

I have to say that lloyds were quick to put the information in the public domain on their website. I'm not sure whether they chose to not appeal a lot earlier that the other banks but most of the rest are pretty shoddy so far in their information.

Agreed, can find nothing yet on Barclay's/Woolwich and Nemo are slow to react

[andrew1]

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

feels like its the usual story of them either fumbling around trying to rid themselves of the shock of the BBA not appealing or they are waiting on divine intervention.

Who from? - the taxpayer to bail them out to pay all this PPI?

[leclerc]

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

Agreed, can find nothing yet on Barclay's/Woolwich and Nemo are slow to react
[/COLOR][/LEFT]

Payment Protection Insurance information - Barclays

Pompey, it's here

[pompeyfaith]

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

Leclerc,

Thank you, my claim is regarding MPPI with the woolwich am I correct in saying the claim should still be directed to Barclays or is there another address.

[leclerc]

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

Leclerc,

Thank you, my claim is regarding MPPI with the woolwich am I correct in saying the claim should still be directed to Barclays or is there another address.

Their call centre( I just rang up) have said yes to that.
------------------------------- merged -------------------------------
Simon Gompertz notebook: The staggering number of dodgy PPI sales

[di30]

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

Agreed, can find nothing yet on Barclay's/Woolwich and Nemo are slow to react
[/color][/left]

Nothing surprises me with Nemo, they were the most difficult when I was dealing with them a few years back, trying to get blood out of a stone.

[pompeyfaith]

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

Their call centre( I just rang up) have said yes to that.

Thank you

[tatty27]

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

I have spoken to RBS this morning and they have told me that claims are still on hold until they have managed to work out what the full impact of the judical review is on the claims (haven't they had since January to think about that or didn't they feel they had to because they were so sure they'd win?)

They have also told me that they will not be revisting old claims that have been settled re the interest they should have paid but they did confirm they will be paying interest for the time the current claims have been on hold. I asked about interest when the claim wasn't on hold and they said they couldn't tell me.

They told me that they are dealing with the claims in the order they were recieved and seeing as they have had mine since August last year (one of the oldest claims they have apparently) mine will be one of the first dealt with

We'll see...