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

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

The jist of it is that the FSA and the Guidance by the FOS are flawed legally since the standards they are using were not in force at the time the policies was being completed. They want the new regs got rid of and the standards that are used to be the same based on those rules set out at the time of the sale rather than a retrospective one.

[wheazy57]

Re: Latest updates on PPI Judicial Review and claims on hold

The jist of it is that the FSA and the Guidance by the FOS are flawed legally since the standards they are using were not in force at the time the policies was being completed. They want the new regs got rid of and the standards that are used to be the same based on those rules set out at the time of the sale rather than a retrospective one.

I got it now - thank you.

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

Rather than the retrospective one...

After having read the 81 page Claim Form, I am left feeeling dismayed and digusted with the Banks and The British Bankers association!

[mids]

Re: Latest updates on PPI Judicial Review and claims on hold

I am having difficulty finding any grounds for a 'hold'. Could someone please point me in the right direction.

[righty]

Re: Latest updates on PPI Judicial Review and claims on hold

The jist of it is that the FSA and the Guidance by the FOS are flawed legally since the standards they are using were not in force at the time the policies was being completed. They want the new regs got rid of and the standards that are used to be the same based on those rules set out at the time of the sale rather than a retrospective one.

That's true but their argument could be a double edged sword in that if its found the regs are not retrospective but at the same time they conned/misled consumers they will be stuffed anyway

They are playing a very dangerous game

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

That's true but their argument could be a double edged sword in that if its found the regs are not retrospective but at the same time they conned/misled consumers they will be stuffed anyway

They are playing a very dangerous game

Agree, Righty!

One could quote examples, however, best not to provide same...let them just dig a far deeper hole.

The interests of the "General Consumer" are a stake here. Thus, all eyes and ears focus on the FSA.

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

The jist of it is that the FSA and the Guidance by the FOS are flawed legally since the standards they are using were not in force at the time the policies was being completed. They want the new regs got rid of and the standards that are used to be the same based on those rules set out at the time of the sale rather than a retrospective one.

A good summary.

As I understand it the FSA will be arguing that the 'new' guidance is not in fact 'new' and merely a more refined interpretation of the Treating Customers Fairly priniples which were already in place. The BBA claim will make more sense once the FSA's response becomes available.

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

A good summary.

As I understand it the FSA will be arguing that the 'new' guidance is not in fact 'new' and merely a more refined interpretation of the Treating Customers Fairly priniples which were already in place. The BBA claim will make more sense once the FSA's response becomes available.

It would be interesting to see their letter back to the BBA prior to the claim being made as it is referred to in the BBA papers.

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

For Debt Star - some education!..........The court hasn't decided whether it is fair that the 12 million who face many charges are subsidising the (on average) much wealthier 42 million other banking customers.

Some education?

This is one of worst articles I've read on bank charges.

If, according to the OFT PCA Market Study, only 31% of revenue from personal current accounts is derived from unathorised overdraft charges and 50% is derived from net interest income - foregone interest - it is the ''much wealthier'' customers (those with high credit balances) who account for the lion's share of the banks' current account income. Not the other way round.

[Chip Tuesday]

Re: Latest updates on PPI Judicial Review and claims on hold

Hi everyone,

I'm very new to this forum, but have been following this thread since the whole JR thing kicked off in October - you've been a goldmine of info. However, I am baffled about how you managed to get a PDF copy of the JR files on Friday. About 3 hours before you posted the PDF I called the BBA, the Administrative Court and the FSA and they all told me that it was unavailable at this time, which begs the question how did you get hold of a copy?! However you did it, well done!

Cheers,

CT

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

I don't know how Avatar got it but JR applications are available from the Administrative Court office at RCJ at a cost of £45.

[Chip Tuesday]

Re: Latest updates on PPI Judicial Review and claims on hold

I must have called a couple of hours too early then!

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

I think some CMCs had access to the application from around 9am on Friday.

Hopefully they'll also get the Acknowledgment of Service from FSA & FOS (which will include grounds for contesting the claim http://www.hmcourts-service.gov.uk/c...2_web_0109.pdf) but we've ordered them directly from the court to be sure we get them.

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

those pesky CMCs have some worth then lol

[Chip Tuesday]

Re: Latest updates on PPI Judicial Review and claims on hold

Can you request something from the Court before it's published then?

CT