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

[EXC]

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

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

CT

I'm sure you could but they're not published as such - they just become available on request. But we know that the responses have been filed in court by virtue of the application being released as it is only released after the Acknowledgment of Services have gone in.

[EXC]

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

those pesky CMCs have some worth then lol

Not really as there are no court documents you can't lay your hands on that a pesky CMC can. The old adage remains: There's nothing a CMC can do that any Tom, Dick or Harry can't.

[NLP]

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

Not really as there are no court documents you can't lay your hands on that a pesky CMC can. The old adage remains: There's nothing a CMC can do that any Tom, Dick or Harry can't.

oh i agree on that one.

just, they seem to be the most pro-active at the moment... suppose having huge financial gains to make gives them an edge in trying to track down information and news on the JR.

[pompeyfaith]

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

NLP they would be as there business depends on it lol

[NLP]

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

NLP they would be as there business depends on it lol

indeed, this is my point entirely when i state "financial gains" in my previous post.

i am not grumbling, just thankful they are taking the time to come onto forums and share information.

that is what this place is all about, right?

sharing information and helping one another... i am not in for all the backbiting etc, just takes focus off the task in hand.

so.. be they CMCs, spacemen, nazis, mods/rockers... i care not a jot!

[marshallka]

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

indeed, this is my point entirely when i state "financial gains" in my previous post.

i am not grumbling, just thankful they are taking the time to come onto forums and share information.

that is what this place is all about, right?

sharing information and helping one another... i am not in for all the backbiting etc, just takes focus off the task in hand.

so.. be they CMCs, spacemen, nazis, mods/rockers... i care not a jot!

Which is great providing any information they are sharing (or anyone else TBH) is correct and not in anyones interest other than the consumer.

[NLP]

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

Which is great providing any information they are sharing (or anyone else TBH) is correct and not in anyones interest other than the consumer.

?

A CMC surely cannot make money.. unless the consumer gets a refund....

right?

[cardinals]

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

Mr Daniels doesn't seem to think he will be paying back much PPI:

Lloyds sees increased profits on mortgages

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Taxpayer-backed Lloyds Banking Group today said moves to increase rates on new mortgages and borrowers switching from cheaper fixed-rate deals was driving higher profits on home loans.

Lloyds, which is 41% owned by the Government, saw increased income in its retail banking arm during the third quarter thanks to greater mortgage margins.
Borrowers reverting on to standard variable rates and raised rates on new lending helped offset "subdued" demand for home loans, according to the group.
The Halifax and Cheltenham & Gloucester owner said it had a "good" third quarter overall thanks to further declines in losses on loans turned sour since the half year, when it reported profits of £1.6 billion.
Lloyds said it was pricing new mortgages to "more appropriately reflect risk and funding costs", hitting first-time buyers and home-movers.
But the bank stressed that interest rates were still below the average seen before the credit crunch in 2007.
The third-quarter performance has kept Lloyds on track for a "good financial performance" for the full year.
Lloyds said earlier this year that it was on course for annual profits - which would mark its first full-year surplus since being bailed out by the taxpayer at the height of the financial crisis.
Chief executive Eric Daniels, who last month announced plans to retire in 2011, said: "I am pleased to report that we had a good third quarter in our core business as we continue to deliver against the group guidance we provided at the interims."

But Lloyds has come under pressure in recent days as banking experts have speculated on the potential bill the group could face for claims relating to controversial payment protection insurance (PPI), with one analyst estimating it could be forced to pay up to £1.5 billion.
The company is among a group of major banks backing a British Bankers' Association move to seek a judicial review against rules on PPI compensation.

Mr Daniels said he believed the banks had a "very good case" and "don't believe there will be a charge".

Lloyds also signalled today that it would not need to raise more capital to meet tough new rules on capital strength under the so-called Basel III plans.
There had been fears that other UK banks would follow the lead of Standard Chartered, which recently announced aims to tap shareholders for cash to help bolster its balance sheet to take the new regulations into account.

[Avatar]

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

To paraphrase Mandy Rice-Davies, "Well he would say that, wouldn't he".

The context is Lloyds TSB declaring their 3rd quarter performance with upbeat projections for the next quarter. He's hardly going to say, "Actually we're probably going to get a pasting in the High Court, but it's worth a punt."

Sorry Cardinals, don't mean to belittle your comment as it were, it's just worth noting that this is effectively a press release, with the objective of pleasing the City and other institutional eyes.

[Chip Tuesday]

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

oh great, as long as Lloyds get a profit

has anyone else read the BBA's judicial review submission? It makes quite interesting reading (not as meaty as I thought it would be), but there are a few points that are confusing me a little, the main one being what are the FSAs "Open Letter Standards" and where can they be found?

Any ideas? I've searched the FSA website with no avail, is this just a technical bit of jargon used by the BBA or is this an actual document? I know the JR submission doc includes an Annex detailing the Open Letter Standards (from the view of the BBA) but is this the only breakdown of the standards that has been made?

CT

[cardinals]

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

I agree that it is just posturing and didn't mean to imply they would make it stick - should have started the post with 'Eric is being over optimistic'

Cheers

[marshallka]

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

?

A CMC surely cannot make money.. unless the consumer gets a refund....

right?

What about upfront fees?

[Amethyst]

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

Hi all, bit of catching up to do

I'll put the JR docs in a seperate post on their own for easy access. Some intense reading there but quite gratifying to know our early analysis of the situation was pretty much spot on.

Thanks muchly to Avatar for sending a copy over.

Ame
xx

[NLP]

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

What about upfront fees?

again, lets not tarnish them all with the same brush... not all CMCs take a fee upfront.

[EXC]

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

oh great, as long as Lloyds get a profit

has anyone else read the BBA's judicial review submission? It makes quite interesting reading (not as meaty as I thought it would be), but there are a few points that are confusing me a little, the main one being what are the FSAs "Open Letter Standards" and where can they be found?

Any ideas? I've searched the FSA website with no avail, is this just a technical bit of jargon used by the BBA or is this an actual document? I know the JR submission doc includes an Annex detailing the Open Letter Standards (from the view of the BBA) but is this the only breakdown of the standards that has been made?

CT

There are several. Rather than search under 'open letter', use the term 'Dear CEO letter'.

4 November 2005 http://www.fsa.gov.uk/pubs/ceo/ppi.pdf

29 Feb 2009 http://www.fsa.gov.uk/pubs/ceo/loan_ppi.pdf

September 2009 http://www.fsa.gov.uk/pubs/other/tra...ations_ppi.pdf