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

[MrsSkint]

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

anyone know what happens to the claims that have already been upheld by FOS and are awaiting settlement? Will they also be put on hold?

[Amethyst]

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

well Officially nothings on hold, but we have heard one person who was waiting for a 6k cheque has been told by lloyds he won't be getting it now !


If there does end up being a DISP waiver then there will be terms to the waiver, much as there was for bank charge claims, and already promised refunds SHOULD be safe.

[marshallka]

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

putting it in press


here FSA bans three fraudulent mortgage brokers and imposes fines totalling more than£400k - Legal Beagles Consumer Forum


oo marshy you changed the link lol. Well at least my story (lol) shows the FSA do still have SOME teeth.

Yeah, banning a Mortgage Broker is a little different than rapping the hand that feeds you. The FSA has a loan from both the HSBC and LLoyds of 200 million.... and were expecting more this year!!!!

[Tools]

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

Have the HSBC also stopped accepting complaints? Someone has twittered it??

"Away from her desk", have left message for her to contact me.

[Amethyst]

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

Credit today - Credit Today online

Lloyds reveals struggles of navigating regulators - 12/10/2010

A senior staff member at Lloyds Banking Group today revealed some of the difficulties involved in ensuring the bank was fully compliant with data protection guidance, at Credit Today's Data and Technology conference.

Andy Twaits, head of business mobilisation and risk systems at Lloyds, said that due to the banks being bound by so many different regulators ensuring its mortgage books and the data it held on customers was up-to-date and accurate and that it did not fall "through the cracks" was a "constant challenge".

Twaits said that he and his team had been working on improving the bank's legacy data systems, but he was also involved in setting up a completely new mortgage data system that will allow flexibility and forsee regulators' future demands for full reports.

He said that it was a matter of "getting all the data and getting it now" to ensure the bank was fully prepared for the future.

However, Twaits said that he didn't want to turn his team into regulation experts. He said he worked closely with the bank's compliance department to update it about developments and as a result the bank's departments was "constantly hoisting itself up to meet guidance."

Twaits said: "We are tightly bound by what we can and can't do by regulators. The key thing is to find flexibility in the system that allows creativitity to hold the data better."

just thought that was funny. they certainly are creative !

[Angry Cat]

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

Martin Lewis, MoneySavingExpert.com creator, says: "This is an outrage. The bank charges reclaiming hold was ordered by the courts and agreed with by the FSA – this is something quite different.

"This type of action is like a black-hatted cowboy riding into town, whooping and yelling, and pretending they're untouchable. It's time for the FSA to polish up its sheriff's badge, kick in its spurs and shoot them down.
"We know 81% of people who go to the Ombudsman with PPI complaints win. We know there has been systemic mis-selling.
"What we need to see now, after the charade of the bank charges technicality, is the institutions of state provide real justice for the millions who've been mis-sold billions worth of PPI."

[wheazy57]

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

Yes, you have just found them

Thanks for that!! We need sharpened teeth to a point and razor like in their delivery! Sometimes the English language cant express in one word what one feels - but words like arrogance spring to mind!!

I am so liking this website.....

wheazy57 x
------------------------------- merged -------------------------------

Yeah, the FSA, their regulator:lalala: who they are not listening to....

Like it!! So agree with you - I still feel so angry though in the knowledge that these b******s are STILL holding us in complete contempt.

wheazy57

[Amethyst]

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

I guess Lloyds have more to lose than most if they are forced to review historical complaints....

From The Sunday Times

November 11, 2007
Why Lloyds could be cutting your payouts

The bank is offering customers ‘bribes’ so that they don’t go to the ombudsman

Jessica Bown

THOUSANDS of Lloyds TSB customers could be missing out on hundreds of pounds in compensation for mis-sold loan protection because the bank is trying to dissuade them from taking their cases to the ombudsman.
Lloyds TSB, which sells more payment protection insurance (PPI) than any other company, is offering mis-selling victims “goodwill gestures” rather than logging their complaints with the Financial Services Authority (FSA), claims managers alleged last week. Customers could potentially get more money if they took their claims to the ombudsman, CMC and its offshoot CMC, which take up consumers’ PPI mis-selling cases with lenders, believe financial giants are using off-the-record “goodwill gestures” to lower the number of complaints they have to report.
Anthony Sultan, CMC managing director, said: “Our suspicion is that these cases are not being declared to the regulator and therefore never appear in any FSA statistics on PPI mis-selling.”

removed cmc's name

[nelliewops]

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

Credit today - Credit Today online



just thought that was funny. they certainly are creative !

'Andy Twaits'................Are you sure they got his name right Ame - did they put an 'i' in by mistake d'you think?

[Tools]

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

Have now spoken to James at HSBC Press Office. The general comment was that they are "discussing with the FSA & FOS on how to deal with new complaints" my feeling is that they are wanting to at least put any new claims/complaints on hold.

He was unsure of policy regarding currently ongoing claims/complaints and is checking, he will get back to me later.

It seems that the majority of lenders will be seeking to put new claims on hold but are unsure as to what to do with current ones, we will keep everyone informed as we get to know more.

[WendyB]

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

Bloody typical....just when my SIL should be expecting her payout from Black Horse....has accepted their offer, the 8 weeks is up this Friday (unless of course she's already had the refund and not told me).

[pompeyfaith]

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

anyone with complaints with banks that are past 8wks get them into the FOS now

[di30]

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

I will send my copies/reclaims to the FOS with what I sent Lloyds yesterday.

[nelliewops]

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

My last LTSB one is now with the FOS..............in fact it's my last one altogether, thank goodness - still no cheque from Norton though

[leclerc]

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

Don't know yet although ''....all but Santander saying they are currently reviewing their own policy on new claims.''

LLoyds refuse any more PPI claims | Credit Jungle

I have Santander:

"Just to confirm that we will continue to deal with any issues our customers put to us regarding PPI in accordance with FSA rules."