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

[Leucareth1971]

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

This will be interesting because they rejected your case prior to their no quibble policy which I think suggests that it is unlikely that they are upholding the complaint. I think they made a mistake telling the FOS they were settling(IMHO) so the FOS will probably have to adjudicate on this one.

Hi Received a letter today from Barclaycard with an offer of goodwill(a very low offer) should I take this as I have no proof to give them (I have had this card since the late 80s)

[EXC]

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

From today's Financial Times:



Lobby groups call for clawback of PPI bonuses

Banks are under fresh pressure to penalise executives who may have been responsible for one of the worst consumer scandals in decades after lobby groups backed calls to claw back bonuses for the misselling of payment protection insurance.

Millions of pounds in awards should be investigated in light of the scale of compensation set aside for victims of PPI, said Which?, the consumer group.

The demand echoes that of the Financial Services Authority, which has urged banks to strip bonuses paid out to those who were in charge when the controversial loan insurance was sold.

Banks have taken note of the FSA’s request and are expected to provide more details of their efforts in their annual reports. One said it was “exploring every possible avenue” in its attempts to reclaim past bonuses.

Public anger over banker remuneration has already led Stephen Hester, chief executive of Royal Bank of Scotland, to give up his £1m bonus this year, following an intense political and media campaign.

A number of banks have said that PPI will be a factor in this year’s pay talks, but none have so far managed to reclaim bonuses paid out in the past.

Under the regulator’s rules, deferred awards can be cut if the business suffers a material failure of risk management or downturn in performance.

In a letter to the UK’s five biggest lenders, Which? claimed that unless the industry’s billion pound provision for mis-sold loan insurance was reflected in current remuneration arrangements, the banks would be in breach of the City regulator’s pay code.

“This is one of the clearest examples of unfair treatment of customers and reward for failure on an industrial scale,” said Richard Lloyd, executive director at Which? “There has been a lot of rhetoric from the government and banks about linking performance to pay. This will be the test to see what that rhetoric means in practice.”

Some banks - such as Barclays and RBS - said they stopped selling the majority of PPI by the time the clawback rules were introduced in 2009, potentially making it difficult for them to retrieve previous awards to executives involved in the scandal.

Lloyds, which announced it would stop selling the insurance product altogether in July 2010, has been looking to claw back part of the bonuses given to Eric Daniels, former chief executive, and some of his top lieutenants.

Bob Diamond, chief executive of Barclays, has previously told a parliamentary committee that PPI would be a factor in the bank’s pay talks this year.

But Antony Jenkins, former chief executive of Barclaycard, said those responsible had mostly left the bank.

“The PPI problem dates back to the start of the last decade,” he said. “The people who were leading the business at that time and who had accountability for this have left the organisation,”

Which? has pointed out that Mr Jenkins tenure at the helm of Barclaycard between 2006-2009 coincided with the distribution of policies later deemed to have been mis-sold. Barclaycard has taken a £600m provision for PPI redress.

[Bill-K]

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

Thanks Leucareth.

Here's a link to Sky News:

Banks Told To Claw Back Bonuses From Executives | Business | Sky News

[Leucareth1971]

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

7:35pm UK, Wednesday February 01, 2012
Banks Told To Reclaim Bonuses Over PPI

[Bill-K]

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

1 down, 99 to go, then, I guess !!!

[EXC]

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

Out of interest, who else got a Knighthood for "services to banking"? I tried the usual google but all it comes up with is Mr Goodwin and that story.......

Dispatches searched through every Honours List the Government has issued since 1997 and found that a total of 81 honours were handed out to those working in banking in finance.

The key facts:

• - 81 honours given to individuals working in banking and finance
• - 36 of these were awarded to bankers
• - 19 knighthoods, MBEs, CBEs or OBEs awarded by the government for "services to banking"
• - 62 honours were given for services to the finance industry
• - Of those rewarded, 16 worked for banks which later failed
• - 9 honours were awarded to RBS staff
• - Standard Chartered, HSBC, HBOS and Barclays each received 4 honours
• - Lloyds TSB were awarded 3 honours

Dispatches - Features - Still Cashing In: Honours List - Channel 4

[leclerc]

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

Out of interest, who else got a Knighthood for "services to banking"? I tried the usual google but all it comes up with is Mr Goodwin and that story.......

[Bill-K]

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

As I know you'll love my perspective, at least they haven't touched his pension

Indeed so, Monsieur. John Lennon's contempt for the honours system has always impressed me. These days, a knighthood - to me - is a condemnation.

I agree that his pension - and his ability to continue earning $h1t-loads for his $h1t - should be focussed upon.

Ed Miliband touched upon this. I would like to see someone run with that baton, now.

[leclerc]

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

What real benefit does having a knighthood have? I ask because the honours system itself while nice, is similar to giving a certificate for swimming. It's looks nice on the wall but when it comes to anything else it is about as useful as a chocolate fireguard.

As I know you'll love my perspective, at least they haven't touched his pension

[cappo]

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

Shredded at last.

Ha Ha i like it!

[Bill-K]

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

Shredded at last.

[cappo]

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

Looks like poor old freds copped a packet (now he knows what it feels like)




Fred Goodwin stripped of his knighthood - Yahoo!

[EXC]

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

Article in today's Eye about FirstPlus.

FirstPlus Complaints Consumer Action Group Complaints against Barclays - First Plus Complaints

[dogtired]

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

when did they reject you and when did the complaint go in?

End of October.
complaint went in at the end of June last year
FOS came back at the beginning of the month to say that "the business" had also turned them own so now I am in the loop whilst they look into it.
Barclay's took over the agreed period "due to pressure " of complaints and led me to believe, verbally, that I "had a chance"
The card is long since gone and was initially obtained at a show and I had a "gift" of a sports bag, at no time was any form of insurance discussed, the usual I suspect.
But out of four initially I only have them and Bank of Scotland left that have had issues, (we wont go into Welcome Finance as that is a completly different isue)!
DT xx
sorry forgot that I have another that paid out in full! so it was five cards and a loan!

[leclerc]

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

Barclay rejected mine and it was started just as they said "no quibble" Now on the waiting game with FOS.

when did they reject you and when did the complaint go in?