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

[NLP]

Re: Lloyds puts PPI claims on hold in defiance of regulator

In December 2006 there was a 'protest' outside the OFTs offices, there were about 50 people there. No effect. (and yes I was there)

However by communicating, talking and meeting, and responding to consultations and getting information from FOI requests, attending and reporting on hearings and judgments and keeping people informed I think we have had an impact.

The original bank charges waiver bypassed people in hardship, it was changed to make hardship cases exempt and following from that the Lending Standards Board had much stronger guidance on Hardship - which wouldnt have happened without input from groups like ours and the more formal groups like Which? and CAB. Our type of groups are good as we are much more easily placed to be immediatly reactive to things that happen and to pass on information and cases from on the ground (the consumers). We can tell the regulators/government etc what IS ACTUALLY happening to people not what statistics suggest and what the banks pretend they are doing. We inform people and act as a middle man (information wise) and I think we do it well. Of course we dont have the finances and resources behind us as Which? and CAB do.

I have tried my damndest to get the other sites to work together - the bank charges effort was flaming pathetic. There was this big announcement about the sites working together, I even managed to get Martin to set up a private forum for the administrators of each site to discuss issues and tactics and work together in (as MSE is most neutral in some of the argy bargy between sites historically), but sod all interest. LB shared all their info, the opinion from Anthony Scrivener QC was done specifically BECAUSE MSE had said they would get an opinion for the use of EVERYONE but when it came down to it refused to share with anyone and left the public only having a 'how to' guide on MSE, so we went to lawyers and engaged Anthony Scrivener (who agreed, wonderfully) to do it pro bono as people had been let down by Raymond Cox via MSE. We got the opinion and immediately put it public and gave it to the other sites.

I think its on MSE as Nattie posted it in a thread - was given zero publicity there. CAG refused to post it at all, I tried to post it a couple of times, as did someone else but they removed it and all mention of it. It didnt mention LB at all, it was a simple text paste of a pro bono opinion. Thats complete crap, and thats the kind of attitude we are up against.

We have all the way through tried to share to info from FOI's, meetings with the LSB, OFT etc, Judgements, transcripts etc to enable the general public to be aware of what is happening and have a say in things going forwards.

Look at any of the consultation threads - the lack of response we get asking for input and help with this is completely bonkers.

Anyway think I should shut up now, apologies for the rant but I am actually quite upset by your comment when we are working as hard as we possibly can on this and other issues and against powerful banks, governments and inane and rather pointless regulators.

Wonderful, wonderful post!

I sincerley respect your sentiments, and efforts, past, present and i'm certain in the future.

I am aware of some bickering between certain sites, but i am flabbergasted re: the MSE stuff you posted above.

I am sensing a conspiracy more and more each day.

Certain people are not the side they pretend to be, and maybe that is our biggest hurdle.

Nonetheless, this ppi claims stays issue is certainly nothing like the bank charges, and i'm sure lloyds are now realising they royally cocked it up, as they would have expected every other bank to follow suit... but no, santander who stepped in straight after lloyds last night and said we shall continue with complaints, and that is why the likes of HSBC and RBS et al are still revieiwing what they are to do.

Santander are saviours of sorts, and need to be lauded, as they have potentially salvaged what could have been a total nightmare.

Lloyds on the other hand, well...my word, they should suffer for this!

[Amethyst]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Thank you NLP, I appreciate that

We spoke to the BBA earlier and they didnt know anything of this supposed 'in full consultation with the BBA'' and got straight onto their legal dept.

We'll try Lloyds, the FSA and the BBA again in the morning.

The FOS are resolute in sticking to their business as usual, claims to them after the 8 weeks (or on final response which a 'claims on hold' response would be!)

We're only little people and we try our best with the resources we have (which is basically this site with some exceedingly decent people on) xx

(and I dont 'do' conspiracy theories)

[di30]

Re: Lloyds puts PPI claims on hold in defiance of regulator

My hubby have not yet received his email response from his adjudicator in regards of one of his ongoing complaints via Credit card ppi (lloyds), the last email was last week, when the FOS confirmed Lloyds had agreed with reviewing his refund and recalculate in with the FOS guidelines, and they were expecting to hear in the next fortnight.
So that should be next week then.

So we shall soon see....

Anyway, hubby emailed Sunday night before actually knowing for definate on the blocks - just to find out if it would affect his case.
He did try ringing before going in on afternoons, but answer machine!

Probs very busy with emails and telephone calls lol.

[marshallka]

Re: Lloyds puts PPI claims on hold in defiance of regulator

http://citywire.co.uk/wealth-manager...powers/a439181

FSA gains collective redress powers

The Financial Services Authority (FSA) has been granted the power to force businesses to establish collective redress schemes to compensate consumers and publicise enforcement actions earlier.

The power was created by the Financial Services Act 2010 and activated today along with others changes to the regulator. The FSA will use collective redress schemes where there is evidence of widespread failings following large numbers of claims made to the Financial Ombudsman Service over issues like payment protection insurance.

This is an important new tool for the FSA, which increases our ability to get redress for consumers when firms have not followed our rules,’ said Sally Dewar (pictured), managing director of risk at the FSA. ‘The power would obviously be used proportionately. It is not a substitute for working with industry where there is the potential to bring an issue to a fair and speedy conclusion.’ The FSA has also acquired the power to publish decision notices ahead of final notices, which means that it can publicise enforcement actions rather than waiting for the Financial Services and Markets Tribunal to process appeals.

[Turboman]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Well done Marshy

I sent for you to help me with the sums--and just like me , you're addicted to this site now.

But you have the experience & knowledge to find things out (unlike me) and are a credit to the site in just 2 weeks

Well done

Turbo

[marshallka]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Cheers Turbo

Found it on the FSA site just

FSA granted new consumer redress power

and guidance notes here

http://www.fsa.gov.uk/pubs/guidance/guidance10.pdf

[pompeyfaith]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Bacon Sarny's anyone lol

Sorry guys n gals just had this smoked bacon taste in my mouth lol

[leclerc]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Edited comments having read others comments earlier and not wanting to distract the topic of the thread.

[marshallka]

Re: Lloyds puts PPI claims on hold in defiance of regulator

The FSA site seems to be crashing.... ???

[NLP]

Re: Lloyds puts PPI claims on hold in defiance of regulator

You have some excellent suggestions, let me know what you have planned and when you have organised it. If you like I can give you the names, telephone numbers etc of everyone we have spoken to today trying to find out information for our members, maybe you would like to follow up these leads whilst we do nothing and blow hot air. While you are at it here are some email addresses you may need

bankfodder@consumeractiongroup.co.uk
martin@moneysavingexpert.com
Stephen@penaltycharges.co.uk

Let me know when you have their agreement for us all to work together, that would be just dandy.

Good luck

I would love the names and numbers you have tried today.
Very kind of you.

[pompeyfaith]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Indeed page not loading up now looks like it has gone in to overload lol


The connection to the server was reset while the page was loading.

* The site could be temporarily unavailable or too busy. Try again in a few
moments.

* If you are unable to load any pages, check your computer's network
connection.

* If your computer or network is protected by a firewall or proxy, make sure
that Firefox is permitted to access the Web.

[leclerc]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Is there a way of finding out what gripes the BBA had re their reasons for the judicial review apart from this one:

"One of the main industry criticisms of the FSA's new guidance has been that the regulator is seeking to apply higher sales standards for PPI than were in the Handbook at the time the sales were made. "

Court battle threatens PPI complaints regime | Pinsent Masons LLP

[marshallka]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Indeed page not loading up now looks like it has gone in to overload lol


The connection to the server was reset while the page was loading.

* The site could be temporarily unavailable or too busy. Try again in a few
moments.

* If you are unable to load any pages, check your computer's network
connection.

* If your computer or network is protected by a firewall or proxy, make sure
that Firefox is permitted to access the Web.

Probably updating the site. I could get on just before I posted and after when i tried again it crashed. They are probably making a statement lol........

[Amethyst]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Is there a way of finding out what gripes the BBA had re their reasons for the judicial review apart from this one:

"One of the main industry criticisms of the FSA's new guidance has been that the regulator is seeking to apply higher sales standards for PPI than were in the Handbook at the time the sales were made. "

Court battle threatens PPI complaints regime | Pinsent Masons LLP

The BBA response to the consultation on the PPI redress proposals will probably give clues....

Its more the retrospective review and redress than the higher sales standards - but the higher sales standards are to be retrospective - which is what the big issue is - as if the FSA can retropectively change regulations then it opens a BIG can of wiggly things.

[marshallka]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Amethyst, what do you think of the Collective Redress that came into force today... (FSA granted powers for collective redress!!)