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

[pompeyfaith]

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

Well that sounds a sensible course of action to me because giving bonuses is one matter but giving bonuses on losses does not add up.

[di30]

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

Sorry not read through all the threads yet today, so apologies if this have been posted today.

http://www.moneymarketing.co.uk/news...031325.article

Lloyds eyes executive bonus clawback for PPI losses

Lloyds Banking Group is considering clawing back a portion of the bonuses paid out to senior executives because of the losses it will incur due to PPI misselling.
In remarks made at its annual shareholder meeting in Glasgow yesterday, chairman Sir Win Bischoff, said the bank was assessing whether the £3.2bn losses incurred by the misselling of PPI should affect the pay of senior staff.

Bischoff said the bank’s decision to start refunding customers was “in the best interests of the long-term stability of the business”.
He added: “The implications for compensation are being considered by the remuneration committee and will be determined by the Board in due course.”
Senior executives including Eric Daniels, the former chief executive, Helen Weir, former head of retail, and Tim Tookey, finance director, could be among those potentially affected, the Financial Times reports.
No British bank is believed to have reclaimed bonuses since new “clawback” rules were introduced by the FSA last year. These rules stipulate that deferred awards should be reduced if the business suffers a material downturn in performance or fails to manage risk.

Lloyds announced earlier this month it had set aside £3.2 billion to cover the cost of PPI mis-selling compensation. After the British Bankers’ Association lost its High Court challenge to FSA guidelines on compensation, Lloyds said it would not back an appeal against the ruling.

The BBA later conceded defeat and announced it would not appeal.

[di30]

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

I chased Lloyds up again today, and email just received now......


Dear

Thank you for your recent communication sent to our Chief Executive Mr A Horta-Osório. I have been asked to respond on his behalf.

I appreciate that it is frustrating for you not to be given a timescale as to when your complaint will be looked into. However complaints will be handled in date order and we are working with the regulators to ensure we meet their expectations in terms of how we’re handling the complaints and the timescales we’re working to.

I want to ensure any potential redress paid to you is right and this could take a little time. I can assure you that this further delay will not count towards the time limits in which you can refer your complaint to Court or FOS, should you disagree with the final outcome of our assessment.

Please be assured I will respond to your complaint as soon as possible, and as you have previously highlighted that there are issues with the Postal System in your area, I will e-mail you to let you know when my letter is being sent.

I trust this helps to clarify matters.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

[stevesouth33]

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

There might be something else here and it might be an odd thought but here goes. Are the ones that RBS are only paying the premiums back new or JR held ones? You might just wonder that if some of them are borderline and they are advocating a goodwill gesture to make people go away with that might from a FOS perspective not be upheld. Also are any of these ones pre-2005?

[skv123]

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

Have they given a breakdown of the amounts they are offering? That is required as well(I assume the answer is no) and needs clarifying

They are removing it as though PPI was never added. What you say does make sense disproportionate reductions on cancellation would be much worse.

There is no breakdown but i don't require one as their offer is the monthly PPI multiplied by the months paid to date.

I understand the FOS is the only next step but it is disgusting that RBS are forcing people into a choice between a 12 months wait or acceptance of an incorrect offer despite the clear regulatory guidelines. There are a large percentage of people that won't feel able to wait due to the financial constraints of today's economy. There is also the (albeit small) risk that the FOS may decide there was no mis-sale.

[pompeyfaith]

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

Last post your thoughts please

http://www.legalbeagles.info/forums/...=23731&page=28

[leclerc]

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

They are offering a refund of the PPI paid and to reduce future monthly payments by removing the PPI.Are the future payments the same as if it had never had PPI on the loan? By definition cancelling the PPI will already reduce the payments but not to the level in which, had the loan not been made, the loan payment would be x amount(if that makes sense)


They are not offering the 8% simple interest.
FOS then if that is the only issue remaining(check above in case that is not the case re the loan payments)
Lloyds are offering the 8%, Barclays are offering the 8% (although First Plus have in the past refused to do so), Santander are always offering the 8%, HSBC too.

The FSA Complaints handling procedure states that where a complaint is upheld the 8% should be offered. This is no longer under challenge and so RBS' refusal to offer the 8% on these cases in incorrect.

Have they given a breakdown of the amounts they are offering? That is required as well(I assume the answer is no) and needs clarifying

[skv123]

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

Are they merely offering a refund of premiums but not a compensatory level for the money being deprived from you? I think most of the banks are sticking to the policy of refund of premiums but not compensatory amount.

They are offering a refund of the PPI paid and to reduce future monthly payments by removing the PPI.

They are not offering the 8% simple interest.

Lloyds are offering the 8%, Barclays are offering the 8% (although First Plus have in the past refused to do so), Santander are always offering the 8%, HSBC too.

The FSA Complaints handling procedure states that where a complaint is upheld the 8% should be offered. This is no longer under challenge and so RBS' refusal to offer the 8% on these cases in incorrect.

[pompeyfaith]

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

Folks,

Just about to update my Co-op PPI claim which has been settled as there has been progress on it,as far as I was concerned the matter was closed lol Ill say 3 words Lewis Debt Recovery haha bring it on

[leclerc]

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

Morning fellow PPI refund fighters!

Just had a half hour phone call with both MBNA and Barclays regarding PPI complaints that were submitted on August 2011 and then subsequently put on an unsanctioned hold.

The lady at Barclays I think let her tongue slip a little. I asked her if ANY complaints (not just mine) that had been put on hold since last year had been started to be processed yet.

Her reply was no and that they were still digesting and going over the court ruling and were also still waiting on advice and guidance from the BBA! No time limit give.

What the ****??? Is she for real!? What the hell are they playing at?

MBNA was somewhat the same response and told me that they also haven't started to process the complaints which have been on hold. However the lady there informed me that they now fully understand the court ruling and are in the process of putting the necessary measures in place so that complaints will be processed fast and efficiently. No time limits give.

That's not what is on the Barclays website so the person you spoke to perhaps is too familiar with the old line since their own website states this:

"Q. Will Barclays now process those PPI complaints that are on hold?
Yes. We will work closely with the Financial Ombudsman Service and the Financial Services Authority to make sure we deal with all our PPI complaints as soon as possible."

Not on any of the FAQ's on PPI does it say anything about talking with the BBA so that is complete and utter nonsense by them.

The MBNA stance sounds like them though and AFAIK there is still nothing on their website.
------------------------------- merged -------------------------------

just phoned RBS to ask them why they are verbally still telling me that my complaint is on hold but also written to me to say its not on hold and is being processed. The answer to the confusion is that all the 'on hold subject to JR cases' are still in secure storage in "IRON MOUNTAIN" storage facillity until such time as they get them back from secure storage they cannot continue their investigations to a conclusion. Over more bizzarely they are now dealing with new complaints that are coming in now, so the pooor folks that were put on hold are effectivly locked in IRON MOUNTAIN. I am absolutely certain that the next excuse will be that Lord Lucan riding on Shergar will perform a midnight raid on Iron mountain, pinch all the paperwork and ride back to never never land. Interestingly Iron Mountain does exist and is a document retention company, still all a bit of a faff though.

http://www.ironmountain.co.uk/index.asp

Cracking pic on the iron mountain website of an RBS lady with a pile of on hold complaints in front of her.

It shouldn't take more than 7 days to retrieve the files from storage so the fact that they are in secure storage at the time of the JR is not necessarily as important as the fact that they should be beginning to deal with claims in the order in which they were received. I do wonder whether they have staff dealing with new claims and staff dealing with the historic "on hold" claims. New claims have to be dealt with within 8 weeks since otherwise those claims will go to the FOS. Nothing stops existing "On hold" complainants going to the FOS.

[LouieJ]

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

Anyone that does not have complaints with the FOS but is going to, do not leave it get those in soon as.

http://www.walletpop.co.uk/2011/05/1...ne/1#c34083071

I have a letter off the bank assuring me that my time limits will be extended due to the complaint being on hold. If I loose out on such a reason, the delay in itself wouild become a complaint.

[pompeyfaith]

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

Anyone that does not have complaints with the FOS but is going to, do not leave it get those in soon as.

http://www.walletpop.co.uk/2011/05/1...ne/1#c34083071

[SoapyBubbles]

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

Morning fellow PPI refund fighters!

Just had a half hour phone call with both MBNA and Barclays regarding PPI complaints that were submitted on August 2011 and then subsequently put on an unsanctioned hold.

The lady at Barclays I think let her tongue slip a little. I asked her if ANY complaints (not just mine) that had been put on hold since last year had been started to be processed yet.

Her reply was no and that they were still digesting and going over the court ruling and were also still waiting on advice and guidance from the BBA! No time limit give.

What the ****??? Is she for real!? What the hell are they playing at?

MBNA was somewhat the same response and told me that they also haven't started to process the complaints which have been on hold. However the lady there informed me that they now fully understand the court ruling and are in the process of putting the necessary measures in place so that complaints will be processed fast and efficiently. No time limits give.

[pompeyfaith]

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

Hey anyone that can give MBNA a spanking is in my good book, I hate them for what they did to me.

Worst campany ever as far as I'm concerned.

[MattyA]

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

Nothing to do with the thread or PPI as such.....

More to show why we should show the banks absolutely no mercy, no sympathy and give them no time!


BBC News - Credit card s story

I have experienced the same thing with MBNA - they are ******* and will stop at nothing.
I am counterclaiming mis-sold ppi on 2 accounts I have with them and fingers crossed I am able to give them a proper spanking in return and where it hurts most - their pocket.
I dont expect it to be easy - it has already been going on months but fight them to the end I will.

Matty.