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

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

that'll be egg for ya

[Angry Cat]

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

I was chatting with a friend last evening who had logged formal complaints about being mis-sold PPI. These complaints like mine were made some time ago and well prior to the JR.

The Banks involved were: Egg, MBNA, Capital One and TPF/RBS.

Egg, refused to correspond further but stated that all letters received had been filed;
TPF, stated similar.

The other two complaints were made directly to both CapOne and MBNA, even though the accounts had been sold to Link and RobbersWay, who infrequently send out begging letters.

None of the four aforementioned banks have made any contact whatsoever with the complainant since the JR.

[EXC]

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

I think AC means that PS10/12 required the banks to actively seek current and previous customers (by contacting them directly, rather than waiting for the customer to complain) where they identified a pattern of misselling on a certain product line

Gotcha. But the Root Cause Analysis requirements are a far cry from contacting all customers who were mis-sold PPI.

According to the Policy Statement the banks were originally required to begin implementation of RCA in Q1 2011 but presumably the banks took it upon themselves to put that on hold pending the JR so I doubt that any customer contact exercises have started yet.

It's a good point though and I think I'll FoI the FSA to find out what the current timetable is and what progress has been made.



While firms should also implement by this date the guidance on root cause analysis
and firms’ obligations to consider the position of non-complainants who may have
been affected by recurrent sales problems, we would not expect firms (absent specific
imperatives to the contrary) to commence any own initiative actions they consider required
as a result (e.g. consumer contact exercises) until six months after this PS is published i.e.
until mid Q1 2011 (though firms may of course choose to commence such actions sooner).
This will give firms time to prioritise initially the efforts required to implement the fair and
compliant handling of PPI complaints.

We will also undertake a staged approach to monitoring the robustness of firms’
root cause analysis of PPI (see also paragraphs 2.18–2.20), but we will run this work
one quarter year behind the complaint-focused work, that is:

Early Q1 2011: we will write to several firms (selected on a risk/impact basis)
asking them for a detailed self-report on what root cause analysis they have done,
the results of this, and what steps they are planning as a result concerning changing
sales practices going forward and/or treating non-complainants fairly.

Q2 − Q4 2011: we will carry out (and/or potentially ask skilled persons to report on)
detailed and intensive reviews of the approach to root cause analysis of several firms
(again selected on a risk/impact basis) and, in particular, their consideration of, and
where appropriate the scope and fairness of, their own initiative actions towards noncomplainants,
and the effectiveness of these actions in giving relevant non-complainants
redress or proper opportunity to obtain it.

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

[ncf355]

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

The banks do not have to pro actively contact customers about PPI. Has there been a misunderstanding here?
Do we mean that banks have to contact customers who have already put a complaint in or are people saying that banks have to proactively contact everyone who was provided with PPI to see if they were missold them?

See my quote in post 4537 above!

The terms detailed within PS10/12 as I quoted above clearly state the banks have to consider proactively (HOW wet??!!) contacting customers that have not complained, where they have identified a systematic issue (for instance calls made to sell PPI for a certain credit card between certain dates ?)

............

"(2) consider whether it is fair and reasonable for the firm to undertake
proactively a redress or remediation exercise, which may include
contacting customers who have not complained"

[The_Big_Dog]

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

TBD. are those percentages the claims put in prior to the end of the JR?

"PPI complaints still with the firm but put on hold during the judicial review will receive a decision by the end of August;"

The above is the definition that they should have been dealing with in regards of that 97%

Hi Leclerc,

Those percentages that I've quoted are claims that we were pursuing that were put on hold due to the JR - by rights, 100% of all of them should have had a final response by the end of August.

TBD.

[leclerc]

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

All three of my complaints were lodged well before the JR

One was ignored, the other two sold off to DCA debt buying firms, whilst I waited for them to investigate my complaints.

Will I chase them up?
Quite possibly but in the meantime I sit and wait to be contacted, as is required.

Perhaps, I am one of the 3%?
However, I consider that thought to be unlikely!

so they have acknowledged the complaint but have not resolved them? I suspect you might be waiting for some IF they haven't already dealt with it since they would have had to have resolved it within 8 weeks(prior to October 2010 there was no hold on complaints).
If they have sold it on, then I can only imagine that they feel that they have resolved the complaint. I assume that you have told the DCA's when they have come a calling that there is a PPI dispute cos that should have thrown the complaint back at the bank to resolve. I can't recall if you have a thread here of if this has happened.

EDIT: I don't let the bank have time, I believe in the harrass harrass harrass and double harrass until they squeal

[Angry Cat]

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

have they even acknowledged the complaint or sent out any letter of finality so to speak?
Have you chased them up?
For me and I have been dealing with family members PPI claims I love the thrill of the chase

All three of my complaints were lodged well before the JR

One was ignored, the other two sold off to DCA debt buying firms, whilst I waited for them to investigate my complaints.

Will I chase them up?
Quite possibly but in the meantime I sit and wait to be contacted, as is required.

Perhaps, I am one of the 3%?
However, I consider that thought to be unlikely!

[leclerc]

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

Personally speaking, I have not been contacted by any bank even though I had logged valid complaints with three. The banks in question refused to communicate further with me.

I know for a fact that others are in the same position.

have they even acknowledged the complaint or sent out any letter of finality so to speak?
Have you chased them up?
For me and I have been dealing with family members PPI claims I love the thrill of the chase

[Angry Cat]

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

The only companies contacting customers are Welcome Finance who are in default. The banks do not have to pro actively contact customers about PPI. Has there been a misunderstanding here?
Do we mean that banks have to contact customers who have already put a complaint in or are people saying that banks have to proactively contact everyone who was provided with PPI to see if they were missold them?

Personally speaking, I have not been contacted by any bank even though I had logged valid complaints with three. The banks in question refused to communicate further with me.

I know for a fact that others are in the same position.

[leclerc]

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

The only companies contacting customers are Welcome Finance who are in default. The banks do not have to pro actively contact customers about PPI. Has there been a misunderstanding here?
Do we mean that banks have to contact customers who have already put a complaint in or are people saying that banks have to proactively contact everyone who was provided with PPI to see if they were missold them?

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

They're not required to so it's hardly surprising in my view.

I was under the impression they were required to as well. Is this not the case?

[debtisbad]

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

Personally, I never really expected banks to adhere to this and.contact customers rather than customers contact them.

[ncf355]

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

I'm not with you I'm afraid.

I think AC means that PS10/12 required the banks to actively seek current and previous customers (by contacting them directly, rather than waiting for the customer to complain) where they identified a pattern of misselling on a certain product line

There has been precious little evidence of any of the banks engaging in this action

From PS10/12 -

(Appendix 3)

3.4.3 G Where a firm identifies (from its complaints or otherwise) recurring or systemic problems in its sales practices for a particular type of payment protection contract, either for its sales in general or for those from a particular location or sales channel, it should (in accordance with Principle 6 (Customers’ interests) and to the extent that it applies), consider whether it ought to act with regard to the position of customers who may have suffered detriment from, or been potentially disadvantaged by such problems but who have not complained and, if so, take appropriate and proportionate measures to ensure that those customers are given appropriate redress or a proper opportunity to obtain it. In particular, the firm should:

(1) ascertain the scope and severity of the consumer detriment that might
have arisen; and

(2) consider whether it is fair and reasonable for the firm to undertake
proactively a redress or remediation exercise, which may include
contacting customers who have not complained

[EXC]

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

Really?
Not what many consumers were led to believe, as per the judicial review.

I'm not with you I'm afraid.

[debtisbad]

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

...Fewer than 6,000 of the backlog are now outstanding.

Margaret Cole of the FSA said: "We are encouraged that most firms have used the time extension to clear the backlog of complaints received during the judicial review."

That is complete bovine excrement! Either that or I'm holding the vast majority of the 6,000 that have yet to be decided.

It's totally disgraceful whats going on here, and I'm beginning to want to walk away from the Claims Industry, which is a shame because I really enjoy what I do, but it's beginning to get a bit much when the Regulator just isn't regulating the market and the consumers it's meant to be protecting.

Margaret Cole is 'encouraged'. Sorry Margaret - what *****ing planet are you on????? You've let banks put hundreds of thousands of claims on hold illegally, given them more time to deal with them, given them extentions to deal with new complaints and they're still putting two fingers in the air at you. Jesus Christ - wake up and smell the coffee woman!

I think the banks are stringing the FSA along here, and unless the FSA are going to intervene, then it's going to carry on - same old tactics by the banks. (In fact, some of them have got worse since losing the JR and we're seeing declines coming in for self employed and pre existing meds for complaints we've put in on behalf of clients after the JR was completed, so it's pretty clear which way the banks want to play).

I think it's because uphold rates have fallen to 55% at the fos - the banks are loving it because now, it's 50/50 whether the complaint gets upheld or not.

Congratulations to the FOS and the FSA - probably the most useless waste of space in the world right now and a total laughing stock.

TBD.

Well, said , and it is refreshing to hear a realistic view of the current situation. Yes, the banks are just rip-off merchants and any idea of customer service or value for money has long since gone out of the window. In my personal battle with the banks, I have managed to write off over thirty five thousand pounds and have won every one of my cases. Unfortunately, not all people are as tough as me and have lost out to a predatory industry.

The sad thing, as you rightly point out, is that the regulatory (I have to laugh when i write that word) bodies and politicians are weak. basically, they don't do the job that they are put there to do and the banks walk all over them.

Maybe somebody will realise one day that our economic woes are not so much connected to immigration, benefits, the NHS, etc. but that the banks are sucking money out of the system.