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

[EXC]

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

About time too!

A few years back I requested information about my case under the DPA. Of course, I learnt very little about how my case had been investigated.
The FOS in fact advised me that my SAR would not reveal very much.

November, cannot come to soon!

I don't think you can get personal information under the FoI Act.

http://www.ico.gov.uk/upload/documen...rmation_v2.pdf

[Angry Cat]

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

Freedom of Information Act extended - 1/19/2011 - Computer Weekly

[Angry Cat]

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

The Financial Ombudsman Service is to due to come under the jurisdiction on the Freedom of Information on 1 November.

The BBA aren't happy and have sent the following warning to it's members:

Freedom of Information & the Financial Ombudsman Service
The Ministry of Justice has laid a draft order before Parliament to bring the Financial Ombudsman Service (FOS) under the jurisdiction of the Freedom of Information Act (FOIA). This will have serious implications for members’ dealings with FOS and, potentially, the FSA. The order will have retroactive effect in relation to information already held by FOS. There is a substantial risk of disclosure of information regarding your business, whether provided to FOS by you, by third parties or created by FOS.

About time too!

A few years back I requested information about my case under the DPA. Of course, I learnt very little about how my case had been investigated.
The FOS in fact advised me that my SAR would not reveal very much.

November, cannot come to soon!

[leclerc]

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

The Financial Ombudsman Service is to due to come under the jurisdiction on the Freedom of Information on 1 November.

The BBA aren't happy and have sent the following warning to it's members:

Freedom of Information & the Financial Ombudsman Service
The Ministry of Justice has laid a draft order before Parliament to bring the Financial Ombudsman Service (FOS) under the jurisdiction of the Freedom of Information Act (FOIA). This will have serious implications for members’ dealings with FOS and, potentially, the FSA. The order will have retroactive effect in relation to information already held by FOS. There is a substantial risk of disclosure of information regarding your business, whether provided to FOS by you, by third parties or created by FOS.

How long is November? Give me a shout if you need some FOI stuff being done on November 1st
Fun fun fun in due course

[EXC]

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

The Financial Ombudsman Service is to due to come under the jurisdiction on the Freedom of Information on 1 November.

The BBA aren't happy and have sent the following warning to it's members:

Freedom of Information & the Financial Ombudsman Service
The Ministry of Justice has laid a draft order before Parliament to bring the Financial Ombudsman Service (FOS) under the jurisdiction of the Freedom of Information Act (FOIA). This will have serious implications for members’ dealings with FOS and, potentially, the FSA. The order will have retroactive effect in relation to information already held by FOS. There is a substantial risk of disclosure of information regarding your business, whether provided to FOS by you, by third parties or created by FOS.

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

My cousin has now had her letter from Lloyds on her PP claimI. It was a business loan and and it was a condition of the loan she had to take the PPI policy. Her complaint has now been upheld and they have offered the full premium back (which was taken in one hit) + 8% interest.

Is this correct or should she be asking for compounded interest?

[dogtired]

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

Thats ok I knew what you meant!

[leclerc]

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

With NatWest workers they pay nothing for them so if its free then yes it will save THEM money but if you pay anything from £8 to £20+ then it may not save most of their customers money......

Apologies for the typo on my analogy.

[dogtired]

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

Do not work for them, just a currant account, "upgrade" any thing from £6 to £15 a month. Have a small overdraft but currently, for once in the black!

[leclerc]

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

so it should, three times when I have phoned telephone bank and twice in branch Nat West have tried to get us to "up grade" to one of theres despite us saying "no thank You" they reckon it will "save" us money ! !

With NatWest workers they pay nothing for them so if its free then yes it will save you money but if you pay anything from £8 to £20+ then it may not save most of their customers money......

[dogtired]

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

The FSA are looking at the sale of packaged accounts and will be issuing a consultation paper this Autumn.

The issue with packaged accounts is that the reality is they are not selling a current account but insurance policies - the sale of which should be sold and regulated as such.

''On packaged accounts, we are undertaking some conduct risk outcomes testing work in order to inform our view of issues around the sale of these products. Where packaged accounts involve an insurance component, firms will already need to consider our existing requirements covering the sale of insurance products (whether the sales are advised or not).''

FAQs

so it should, three times when I have phoned telephone bank and twice in branch Nat West have tried to get us to "up grade" to one of theres despite us saying "no thank You" they reckon it will "save" us money ! !

[EXC]

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

I believe M. Leclerc has suggested that 'packaged accounts' might be a contender for the next 'vogue.'

The FSA are looking at the sale of packaged accounts and will be issuing a consultation paper this Autumn.

The issue with packaged accounts is that the reality is they are not selling a current account but insurance policies - the sale of which should be sold and regulated as such.

''On packaged accounts, we are undertaking some conduct risk outcomes testing work in order to inform our view of issues around the sale of these products. Where packaged accounts involve an insurance component, firms will already need to consider our existing requirements covering the sale of insurance products (whether the sales are advised or not).''

FAQs

[Bill-K]

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

With regard to 'talking tough' - it seems to me that the FSA puts its' teeth in to make such 'tough' pronouncements, but then puts them back in the Steradent jar when they've finished !!! It's no good just 'talking the talk...'
Good to see A&L making an effort, though, EXC.

To be honest, none of this surprises me. Maybe I have.become a cynic about the banking.industry and the "regulators". In addition to which, politicians don't seem to care.
You are not alone, of course, DIB.
The banks will do everything they can to procrastinate and minimise or avoid payouts. Then there will be the next mis-selling scandal.
I believe M. Leclerc has suggested that 'packaged accounts' might be a contender for the next 'vogue.'

[debtisbad]

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

To be honest, none of this surprises me. Maybe I have.become a cynic about the banking.industry and the "regulators". In addition to which, politicians don't seem to care.

The banks will do everything they can to procrastinate and minimise or avoid payouts. Then there will be the next mis-selling scandal.

[EXC]

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

As you imply - and EXC has also observed - the wording is very vague and non-committal, isn't it ? The ONLY obligation there is for the banks to "consider" - which I am sure they will confirm they have done in every argued case. There is no stipulation that such consideration should be given with any due diligence - nor that it should take more than a micro-second of anyone's time. I guess all we really have to fall back on is what is "fair and reasonable" - and that's another discussion, and another delay.

It's very wooly isn't it?

Though I must say that the Policy Statement does talk tough about the monitoring and non-compliance of it. And although it gives a couple of examples of where RCA should be applied it's just not clear enough.

I would hope that the FSA would impose heavy fines for non-compliance - as well as forcing offenders to comply.

In fact Alliance & Leicester had a PPI mis-selling fine significantly reduced because they undertook a Root Cause Analysis exercise which even included previously rejected complaints.

''A&L has committed to implement a substantial and comprehensive customer contact programme, overseen by third party accountants, to ensure that its customers are not disadvantaged. As part of this, the firm will be writing to all customers who took out policies by telephone in conjunction with an unsecured loan during the Relevant Period. It will also review any relevant complaints or rejected claims. The firm has committed to pay redress where appropriate. The FSA considers that the substantial remedial changes to which the firm has committed are significant steps in demonstrating the firm's commitment to complying with its regulatory obligations and treating its customers fairly. The customer contact package proposed by the firm has been taken into account by the FSA and has significantly reduced the level of penalty which would otherwise have been imposed.''

http://www.fsa.gov.uk/pubs/final/alliance_leicester.pdf