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

[EXC]

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

Reports now about Halifax joining the "on hold" crew... don't know how true that is... was on twitter

That's probably right as Halifax (and Bank of Scotland) are part of the Lloyds group.

[marshallka]

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

I think what the FSA are saying is that you can go to the FOS from the point a bank tells you that your claim is pending the Judicial Review, rather than exhausting the 8 weeks.

Payment protection insurance: CFEB Moneymadeclear products explained

''If a firm tells you that it won’t give you an answer to your PPI complaint until after the court case, then you can take your complaint directly to the Financial Ombudsman Service for a decision if you don’t want to wait for the firm’s future answer.''

Seems a little unfair on the ones that have complained and are already queuing maybe?

This then gives Lloyds complainants two months headway looking at it positively for them.

[EXC]

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

Seems a little unfair on the ones that have complained and are already queuing maybe?

This then gives Lloyds complainants two months headway looking at it positively for them.

I don't think it applies just to new complaints, so if you already had a complaint with the bank you'd just need it in writing that it's now on hold pending the Judicial Review.

Also don't forget that regardless of the JR, once you've gone past 8 weeks without a definitive rejection you can go to the FOS anyway.

[marshallka]

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

I don't think it applies just to new complaints, so if you already had a complaint with the bank you'd just need it in writing that it's now on hold pending the Judicial Review.

Also don't forget that regardless of the JR, once you've gone past 8 weeks without a definitive rejection you can go to the FOS anyway.

No, I mean with other firms not Lloyds, the ones that have complained and have waited their 8 weeks and then taken to FOS.

I just hope that FOS put the complaints like Lloyds ones (who pass straight over) and whoever else takes the same stance back 8 weeks to be fair. I bet there will be plenty of them now when it hits the headlines. In fact they have most probably shot themselves in the foot.

[Tools]

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

bottom line here is that all the consumer websites need to get together and actually do something this time around, with the bank charges it was pathetic, everybody sat around with their pants around their ankles getting shafted.

Site team, do something, plan something, speak to other site teams and lets get 200,000 people protesting outside the lloyds head office, CAG alone have 250,000 members... get Martin Lewis involved.

DO SOMETHING this time for crying out loud.

I understand this much, but lets see what prevails over the coming days... i can guess what... but lets see.

Loads of hot air, never any action.

Consumer action groups? loool

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

[EXC]

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

No, I mean with other firms not Lloyds, the ones that have complained and have waited their 8 weeks and then taken to FOS.

I just hope that FOS put the complaints like Lloyds ones (who pass straight over) and whoever else takes the same stance back 8 weeks to be fair. I bet there will be plenty of them now when it hits the headlines. In fact they have most probably shot themselves in the foot.

Gotcha.

On Halifax it is the ''Lloyds Banking Group'' that has suspended complaints, so this will definitely include Halifax and Bank of Scotland New Statesman - Lloyds defies FSA guidance on redressing mis-sold policies grievances

[marshallka]

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

http://www.telegraph.co.uk/finance/p...s-on-hold.html

Don't know if its been posted

The Financial Services Authority has reiterated that it expects all banks to continue handling customer complaints while the inquiry is under way.

But other banks are expected to follow Lloyds' lead. One bank employee admitted: "We haven't quite pulled the ladder up yet on these complaints, but it isn't exactly business as usual either."

Barclays confirmed that it was reviewing its PPI complaints handling process, while HSBC and Royal Bank of Scotland said discussions were under way between the British Bankers' Association (BBA) and the FSA on how PPI complaints should be dealt with in the interim.
Santander said it would continue to deal with all PPI complaints.

These moves follow the decision by the BBA to seek a review of new FSA rules on how banks deal with PPI complaints. These rules, due to come into effect on December 1, would force banks to review millions of older PPI cases against new standards, which are designed to put a stop to highly pressurised sales.
According to Martin Lewis of Moneysavingexpert.com, these reviews could lead to compensation for up to 3m customers, costing some £2bn.
In a statement, Lloyds Banking Group – which includes the Halifax and Bank of Scotland brands – said: "While we wish to resolve all complaints quickly, it is now very difficult to know exactly how to handle a PPI sales-related complaint.
"Since the court challenge by the BBA is likely to take some time to come to a conclusion, the BBA is talking urgently with the FSA and Financial Ombudsman Service about how best to handle complaints during this period. We hope that they will be able to come to an agreed position soon."
A spokesman added that customers could still log complaints about PPI, but they were unlikely to be resolved until the judicial review was complete. The review is not expected to be heard until April at the earliest.
But it is not expected that the FSA will grant a "waiver", effectively allowing all banks to "freeze" complaints, as happened when there was court action pending over the legality of unauthorised bank charges. At the time it was agreed that such charges were a legal grey over, with no precedent set by either the courts or an Ombudsman's test case.

[Amethyst]

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

bottom line here is that all the consumer websites need to get together and actually do something this time around, with the bank charges it was pathetic, everybody sat around with their pants around their ankles getting shafted.

Site team, do something, plan something, speak to other site teams and lets get 200,000 people protesting outside the lloyds head office, CAG alone have 250,000 members... get Martin Lewis involved.

DO SOMETHING this time for crying out loud.

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 the QC 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.

[Amethyst]

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

Also who told the BBA today that Lloyds were saying they had agreed in consultation with the BBA to put claims on hold, that the BBA knew nothing about ?????

[Angry Cat]

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

The wise, should lobby their MP's & MEP's re this matter!

[marshallka]

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

Also who told the BBA today that Lloyds were saying they had agreed in consultation with the BBA to put claims on hold, that the BBA knew nothing about ?????

It was on here

http://www.creditjungle.co.uk/blog/c...er-ppi-claims/

Hi Junglers
Lloyds Banking Group have stirred up controversy over the ongoing Payment Protection Insurance (PPI) dispute by refusing to accept any new claims. They have stated they will stand by any claims already submitted, but will not accept any new ones made. This comes off the back of the British Bankers’ Association (BBA) requesting a judicial review, to prevent the FSA forcing lenders to review any claim made for compensation for the misselling of PPI
A Lloyds spokesperson said “…while the court is considering the issues raised by the BBA, any PPI sales-related complaints will be on hold until further notice. This decision was taken in full consultation with the BBA.”

[EXC]

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

The wise, should lobby their MP's & MEP's re this matter!

To be honest we've tried all that with bank charges.

The only successful lobbying of MPs I know of from consumer websites was when people at CAG sent mass e-mails to MPs to complain about the shortage of public spaces at the first test case hearing. As a result of pressure from MPs, the OFT (and they told me this) persuaded the court service to lay on 50 extra public places in a video feed room.

After all this not a single CAG member bothered to show up during the 3 weeks the case was heard.

[Angry Cat]

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

To be honest we've tried all that with bank charges.

The only successful lobbying of MPs I know of from consumer websites was when people at CAG sent mass e-mails to MPs to complain about the shortage of public spaces at the first test case hearing. As a result of pressure from MPs, the OFT (and they told me this) persuaded the court service to lay on 50 extra public places in a video feed room.

After all this not a single CAG member bothered to show up during the 3 weeks the case was heard.

Apathy, pathetic!

[di30]

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

http://www.telegraph.co.uk/finance/p...s-on-hold.html

Lloyds snubs FSA as it puts PPI claims on hold

Lloyds Banking Group, Britain's biggest bank, has collided head-on with the regulator by putting all customer complaints about mis-sold payment protection insurance (PPI) on hold until a forthcoming judicial review is heard.



The Financial Services Authority has reiterated that it expects all banks to continue handling customer complaints while the inquiry is under way.

But other banks are expected to follow Lloyds' lead. One bank employee admitted: "We haven't quite pulled the ladder up yet on these complaints, but it isn't exactly business as usual either."


Barclays confirmed that it was reviewing its PPI complaints handling process, while HSBC and Royal Bank of Scotland said discussions were under way between the British Bankers' Association (BBA) and the FSA on how PPI complaints should be dealt with in the interim.

Santander said it would continue to deal with all PPI complaints.
These moves follow the decision by the BBA to seek a review of new FSA rules on how banks deal with PPI complaints. These rules, due to come into effect on December 1, would force banks to review millions of older PPI cases against new standards, which are designed to put a stop to highly pressurised sales.
According to Martin Lewis of Moneysavingexpert.com, these reviews could lead to compensation for up to 3m customers, costing some £2bn.

In a statement, Lloyds Banking Group – which includes the Halifax and Bank of Scotland brands – said: "While we wish to resolve all complaints quickly, it is now very difficult to know exactly how to handle a PPI sales-related complaint.
"Since the court challenge by the BBA is likely to take some time to come to a conclusion, the BBA is talking urgently with the FSA and Financial Ombudsman Service about how best to handle complaints during this period. We hope that they will be able to come to an agreed position soon."

A spokesman added that customers could still log complaints about PPI, but they were unlikely to be resolved until the judicial review was complete. The review is not expected to be heard until April at the earliest.

But it is not expected that the FSA will grant a "waiver", effectively allowing all banks to "freeze" complaints, as happened when there was court action pending over the legality of unauthorised bank charges. At the time it was agreed that such charges were a legal grey over, with no precedent set by either the courts or an Ombudsman's test case.

In contrast, there have been numerous investigations, directives, guidelines and enforcement actions surrounding the sale of PPI, the first of which was in 2006. The FSA has taken action against 24 companies over PPI failings, and there have been more than 1m mis-selling complaints.

A spokesman for the FSA said any bank customer who believed their complaint was not being handled correctly would be free to take it to the Financial Ombudsman Service.

Recent figures published by the FOS show that it upheld more than 80pc of customers' complaints about mis-sold payment protection insurance.
PPI has been routinely sold alongside loans and credit cards, offering to protect repayments if the borrower is unable to work. However, while the banks earned substantial commission payments for selling these policies, many failed to explain the small print, which meant that some buyers would never have been able to make a valid claim.

In addition, premiums were often bundled into the cost of the loan, making it difficult for customers to compare costs properly.

[Angry Cat]

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

Most of the 22,420 complaints against Lloyds during the six months to 30 June are thought to be PPI related cases!