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

[EXC]

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

Or are they saying they would they rather sort it out without intervention from the FOS?

That would be my guess.

Remember that once the complaint goes to the Ombudsman, MBNA have to pay the FOS a fee of £500 for them to deal with the complaint - usually regardless of whether it's upheld or not.

http://www.financial-ombudsman.org.u..._notes/QG1.pdf

[EXC]

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

The FSA's Grounds of Resistance have been filed at the court but the FOS's haven't as yet but are expected to be. As the paperwork is with the judge the court can't print off copies yet so we'll just have to wait for notification as to when they'll become available.

[Chip Tuesday]

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

Fingers crossed they'll be able to print it off soon!

CT

[Footynut]

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

Can someone please explain what grounds of resistance means. Thanks

[EXC]

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

Can someone please explain what grounds of resistance means. Thanks

The Grounds of Resistance are essentially the defence to the BBA's claim but also the grounds for contesting the validity of the BBA's application to have the Judicial Review heard at all.

[The Debt Star]

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

Hi. I've just put in a PPI claim vs Barclaycard. Wil this go into auto-hold?

[di30]

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

I hope not TDS, fingers crossed for you.

[Chip Tuesday]

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

Have you guys seen these?

http://www.competition-commission.or...ng_seminar.htm

CT

[EXC]

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

Nice one Chip.

These are the details of the Order that the Competition Commission is issuing on the requirements of selling PPI following their investigation.

Interesting to note that in the section of the OFT's presentation on 'dealing with breaches of the Order' it states that:

''Breaches are also actionable in court by anyone affected by them and by OFT (section 167 of the Enterprise Act refers)''

Which means that for PPI that is sold after the order comes into effect, an individual who's policy was sold and found to be in breach of the Order, could sue the bank personally for breaching the order.

A good summary of the background of the Competition Commission's work that has led to the Order is their written evidence to the Treasury Select Committee (at annex A) Competition and Choice in the Banking Sector

[di30]

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

Thanks, this is interesting!

[cardinals]

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

Somewhat discouraging news from the Ombudsman......



ombudsman news "Q&A" page

featuring questions that businesses and advice workers have raised recently with the ombudsman's technical advice desk – our free, expert service for professional complaints-handlers.
What's the latest on the judicial review on payment protection insurance (PPI) complaints – being brought by the British Bankers Association (BBA) against the FSA and the ombudsman? And how is it affecting PPI complaints with the ombudsman?
On 8 October 2010 – on behalf of a number of high-street banks – the British Bankers Association (BBA) filed papers in the High Court requesting a judicial review of the Financial Services Authority (FSA) and the Financial Ombudsman Service.

This is a legal challenge relating to:

• the FSA's new payment protection insurance (PPI) complaints-handling measures that came into force on 1 December 2010 and
• information on our website about the approach we take to consumers' complaints that they have been sold PPI policies inappropriately.

The judicial review is scheduled to take place in the High Court in London during the week beginning Monday 24 January 2011.

At the time the BBA launched its legal challenge, we confirmed that we would continue to deal with PPI complaints, while awaiting the outcome of the court case. This has meant that we have continued to receive and process new PPI cases – now being referred to us at a rate of up to 2,500 each week.

This number has been increasing. Many businesses are continuing to handle complaints as normal but some have decided that they will not respond substantively to many PPI complaints until the final legal outcome is known.
The consumers in these cases can still bring their complaints to us – but only once they have first given the business eight weeks (the time the business has to sort out complaints under the FSA's 'DISP' complaints rules).

The increase in PPI cases referred to us by consumers, where the businesses involved have not set out their conclusions on the complaints by the end of that eight-week period, means the rate at which we can settle these cases is now slowing down.
Where businesses do not set out clear views on cases, it will be difficult for our adjudicators to resolve cases informally. Inevitably this can only result in further delays and additional costs.

We regret any reduction in service levels for customers with PPI complaints. Consumers and businesses with complaints about all other financial products and services will remain unaffected by this.

[Chip Tuesday]

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

if anyone wants a link to Cardinals' post above it is:
http://www.financial-ombudsman.org.u.../91/91-ask.htm

CT

[leclerc]

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

Somewhat discouraging news from the Ombudsman......



ombudsman news "Q&A" page

featuring questions that businesses and advice workers have raised recently with the ombudsman's technical advice desk – our free, expert service for professional complaints-handlers.
What's the latest on the judicial review on payment protection insurance (PPI) complaints – being brought by the British Bankers Association (BBA) against the FSA and the ombudsman? And how is it affecting PPI complaints with the ombudsman?
On 8 October 2010 – on behalf of a number of high-street banks – the British Bankers Association (BBA) filed papers in the High Court requesting a judicial review of the Financial Services Authority (FSA) and the Financial Ombudsman Service.

This is a legal challenge relating to:

• the FSA's new payment protection insurance (PPI) complaints-handling measures that came into force on 1 December 2010 and
• information on our website about the approach we take to consumers' complaints that they have been sold PPI policies inappropriately.

The judicial review is scheduled to take place in the High Court in London during the week beginning Monday 24 January 2011.

At the time the BBA launched its legal challenge, we confirmed that we would continue to deal with PPI complaints, while awaiting the outcome of the court case. This has meant that we have continued to receive and process new PPI cases – now being referred to us at a rate of up to 2,500 each week.

This number has been increasing. Many businesses are continuing to handle complaints as normal but some have decided that they will not respond substantively to many PPI complaints until the final legal outcome is known.
The consumers in these cases can still bring their complaints to us – but only once they have first given the business eight weeks (the time the business has to sort out complaints under the FSA's 'DISP' complaints rules).

The increase in PPI cases referred to us by consumers, where the businesses involved have not set out their conclusions on the complaints by the end of that eight-week period, means the rate at which we can settle these cases is now slowing down.
Where businesses do not set out clear views on cases, it will be difficult for our adjudicators to resolve cases informally. Inevitably this can only result in further delays and additional costs.

We regret any reduction in service levels for customers with PPI complaints. Consumers and businesses with complaints about all other financial products and services will remain unaffected by this.

I have highlighted above another passage of the text that I think is also important to remember.
I'm not sure we have a complete picture of ALL financial services providers who give PPI, so we are only aware of the BBA ones. That does mean that other companies appear to be unaffected by the backlog. Do we know the exact figure, percentage wise of those PPI providers who are within the BBA.

[Chip Tuesday]

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

I would have thought that any backlog within the FOS, JR related or not, would impact their entire process. I could be wrong, but surely if some cases are difficult to determine it will negatively impact all the surrounding non-contentious cases??

Humms, at least this states that the FOS are definately processing complaints, albeit with delays.

CT

[mids]

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

Its all well and good FOSing it, but like I said, the JR will prevent FOS from doing their job properly. I think we are faced with 18 month delays, at least.