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

[leclerc]

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

http://www.bbc.co.uk/news/business-18994278

[michael]

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

“We are putting companies on notice that these deceptive practices are against the law and will not be tolerated," Richard Cordray, director of the consumer bureau, said of the agency's first major enforcement action since starting operations a year ago.

I wonder if that's the first of many

[EXC]

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

Capital One have been caught out mis-selling PPI in the US.

http://www.latimes.com/business/mone...0,450326.story

[EXC]

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

After a short consultation the FSA has published it's guidance to banks on the Customer Contact Letters (CCLs) that they will be sending out as part of the Root Cause Analysis requirements of the PPI Policy Statement 10/12.


Summary of feedback http://www.fsa.gov.uk/static/pubs/gu...17-summary.pdf

Guidance http://www.fsa.gov.uk/static/pubs/guidance/fg12-17.pdf

[Bill-K]

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

It's a crying shame that settlement so often secures gagging. But it must be a dilemma for those where a good settlement figure is the primary target.

Perhaps - in retrospect - it would have been better to keep quiet about it all until the final result was known. After all the hype and hoo-hah, there only seems to be two parties who have gained any academic benefit from the confrontation.

[EXC]

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

After the blazing row he had with the Scottish Legal Aid Board about securing public money in the form of legal aid on the basis that a judgment would benefit millions of consumers Mike Dailly settles yet another ground-breaking bank charge case out of court.

It looks like his bank charge campaign is now languishing in the 'where are they now' file.

http://govanlc.blogspot.co.uk/2012/0...tland-plc.html

[leclerc]

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

Just to add to Exc's post and bill-k if it was to merge with A.N.Other's forum then it would have to remove a hell of a lot of bans since most people who were booted from there ended up on MSE. Plus, I think it would be dangerous for that other forum to effectively "sell out" to big business.

[EXC]

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

Do you think that the MSE forum will now disappear - or perhaps merge with 'a.n. other's' consumer action forum ?

I don't think it'll make too much difference in the short to medium term at least. People will still want to look for the best deals and if MSE keeps coming up with them not much will change.

I couldn't imagine anyone in their right mind wanting to merge with CAG.

[Bill-K]

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

As usual, I bow to your superior knowledge in these matters, EXC !!! I hardly ever use MSE myself, and wrongly assumed that it was a massive forum, attracting a lot of traffic. I know that ML posts up his own advice and money-saving tips, but I really didn't think that his advice alone would generate so much interest. OK., then, so it IS Martin Lewis who they have bought, because he IS personally worth that price.

Do you think that the MSE forum will now disappear - or perhaps merge with 'a.n. other's' consumer action forum ?

[EXC]

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

The traffic exists - and therefore the income generated by it - because of the sheer size of the forum.

I can't see that if the forum traffic is only 1/39th of the revenue-generating commercial traffic. The vast majority of people use MSE to find a good deal because of ML's exposure in the media that he knows what he's talking about and is pro consumer, and not to read the opinions of anonymous souls on it's forum.

If I owned Moneysupermarket.com and was in it only for the money I'd ditch the forum in a heartbeat as it adds no tangible value to the business.

[Bill-K]

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

The traffic exists - and therefore the income generated by it - because of the sheer size of the forum. The forum is not one person (Martin Lewis) - it is the sum total of its membership. Without that membership, there would be no forum, and therefore no income.

[EXC]

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

From what I understand, the value is in the revenue created by the sheer volume of traffic via referrals, click-throughs & advertising, etc.

Precisely.

[Bill-K]

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

Without the contributors to the site, it would just be Martin Lewis writing a blog all on his tod. I doubt very much that his one-man blog would have sold for £87m. From what I understand, the value is in the revenue created by the sheer volume of traffic via referrals, click-throughs & advertising, etc.

Mystery 1's post quotes from BBC Business News:-

http://www.legalbeagles.info/forums/...030#post268030

In the 12 months to the end of last October, MoneySavingExpert generated revenues of nearly £16m from 39 million users.Of this income, about 59% was earned from referral fees paid by MoneySupermarket.
These are generated whenever a reader of MoneySavingExpert clicks on a link that takes him or her through to the MoneySupermarket price comparison service, or when the reader follows a link to a financial product or service provided by MoneySupermarket.

[EXC]

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

One of the MSE members and contributors who disagreed with the sale pointed out that the value of the site has been created by the voluntary contributors to it. Their voluntary efforts have all gone to line Martin Lewis's pockets, and IMO they themselves have effectively been ripped off by the gamekeeper turned poacher.

How can the value of the site be created by the voluntary contributors to it?

To quote the BBC piece: ''In the 12 months to the end of last October, MoneySavingExpert generated revenues of nearly £16m from 39 million users.''

The current forum membership is barely 1 million and therefore isn't capable of accounting for anything more than a fraction of the revenue.

In my view ML has been the most effective and high profile campaigner for consumer rights in our generation - something he couldn't have achieved without being successful.

[Angry Cat]

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

Totally agree, Bill-K!