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

[EXC]

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

With regard to the Acknowledgment of Service from the FSA & FOS we should have them next week. However they won't contain the grounds for contesting the application. This is due to an order that was made by the court on 21 October that as the hearing has been scheduled as rolled, the submission of grounds in the AOS have been dispensed with.

The FSA have sought an extension to filing their skeleton arguments (grounds for contesting) and will file them on 11 December. The extension has no bearing on the hearing date.

[Chip Tuesday]

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

what does a "rolling hearing" involve, does it purely mean that it will include a hearing at the start?

It's a bit of a shame we won't have the grounds for contesting the application (I was looking forwards to that) but at least it isn't too long until the next round of submissions happens - they may actually meet the scheduled court dates - woohoo!

CT

[EXC]

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

A rolled hearing is where the Judicial Review application hearing and the actual Judicial Review (should the application be granted) are combined into a block ie 25 to 28 Jan.

The court won't say at this point if the skeleton arguments will be released but I'll be picking up the AOSs & the order from the court on Monday.

[Chip Tuesday]

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

Sweet, thanks EXC!

CT

[pompeyfaith]

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

Exc,

Thanks, must say you are doing an excellent job keeping us all informed.

[214Brett]

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

Hi all-completely new to the site, but have spent a lot of last night and this morning trying to read as much of this thread as possible.

I've got 3 different claims in with We Fight Any Claim and have paid a substantial (to me, anyway) amount in advance. The letters sent be them to my creditors was sent on July 29th this year. It's gone way beyond the 8 weeks to respond and when chasing up WFAC, they said that because it's going to Judicial Review, there's been a delay. I've not received any letter from my creditors to state this and WFAC haven't said they've recieved any on from them on my behalf.
The guy dealing with my case states that they're confident that Judicial Review is to be decided in our favour on December 1st so they expected offers to start coming in after that.
Obviously I've waited long enough for a response and mentioned that I wanted it to go to FOS for resolution. The guy then advised that they could do that, but it's best to keep a softly, softly approach with the banks as you're more likely to get an offer from them then If I was to to go to FOS as that would only annoy them!!
I can't help feeling that this is going to be appealed and appealed some more and will be waiting for a long time before any final decision from the courts.
Can one of you more knowledgable peeps give me some advice? Should I say take my case to FOS now? I want my money back as I'm not happy with the service?
Any help will be grately received.

Cheers, Brett

[di30]

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

Hi and welcome Brett

It is actually your right to complain to the FOS now, the 8 weeks have well passed and its the normal procedure to follow, unless you wanted to wait to see what happens about the JR issue first.

What you could do is contact the FOS anyway and see what they suggest, but personally its your choice if you want to go this way now.

I'm sure you will receive other posts on here with some suggestions.

Please keep us posted though, that would be good thanks, and good luck.

[Chip Tuesday]

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

Hi Brett,

The guy you were talking to at WFAC obviously has a positive outlook on life, but he is a little misguided. It would be brilliant if the JR were to be decided by 1st December, but it is not scheduled to be heard in court until late January (26th). The December date is linked to the PPI JR, it is the date that the new rules were supposed to come into effect, and the FSA (Financial Standards Authority) still want to enforce this. I'm sceptical as to how much compliance there will be.

All the best with your complaints though, if in doubt FOS it!

CT
------------------------------- merged -------------------------------
ps. any news of the Aknowledgement of Services yet?

CT

[leclerc]

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

Barclays have clarified their view after I asked them about it:

I can confirm that complaints which cover both Judicial Review (JR) and Non Judicial Review (NJR) issues, will have the NJR facets dealt with within eight weeks and the balance (JR items) put on hold until after the decision.

Naturally, the date JR related complaints would be dealt with is subject to the court process timetable

[EXC]

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

I’m still waiting on copies of the AOSs - it's like pulling teeth - but I’m assured that they’re almost blank anyway and barely worth looking at.

As to the Court Order - below - it’s worth bearing in mind that the FSA applied for & secured it’s extension to filing it’s summary grounds for resistance after this Order was made. The FSA have since been granted until 15 December to do so and, as I understand it, this pushes the dates in the Order forward by a calendar month from bullet point 3 under of the Case Management Directions. But this doesn’t effect the hearing date which the court assures me remains listed for 25 Jan.

The Order appears to infer that the FOS requested the court to consider their resistance to the application for Judicial Review without a hearing. This could possibly (I’m guessing) relate to the 3 month time limit for challenging a decision made by a public authority by way of Judicial Review. This potential issue was acknowledged in the BBA’s application (at paragraph 117 Copies of official Judicial Review paperwork - Bba/Banks v FSA/FOS - Legal Beagles Consumer Forum ) that they are contesting FOS guidance which first came into force in November 2008 and their reasoning for an extension to the 3 month period is based on the premise that complaints currently dealt with by the FOS under the guidance constitute a ‘’continuing decision’’ and that in any case individual banks could challenge individual upheld complaints based on the guidance.

[Chip Tuesday]

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

What do you guys make of this?

http://www.fsa.gov.uk/pubs/press/ppi_statement.pdf

The FSA released it today, it is a clarification of their intentions regarding Open Letters. Do you think it might be the FSA's way of exposing their counter arguments without having to refer to their Aknowledgement of Service?

CT

[EXC]

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

In my view this has more to do with clarifying the FSA's requirements in the the open letter in anticipation of them being properly implemented on 1 December.

As paragraph 2 points out, it is only because of the Judicial Review application that the FSA have become aware of a potential misinterpretation.

The BBA would have been broadly aware of the of the FSA's counter arguments in the their response to the letter before action.

[EXC]

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

Another day, another speech by FSA:


Complaints

Another area that has interested us is complaints handling. Our recent review is a prime example of our more intensive and intrusive approach to the supervision of conduct risks. We have identified complaint handling as a key conduct risk that all firms should prioritise. We firmly believe that the quality of complaint handling is a litmus test of a firm’s culture and its senior management’s commitment to delivering fair outcomes for customers.

Our review was aimed at delivering major improvements in the quality of complaint handling within banks and raise standards across the financial services industry. Disappointingly, we found evidence of poor complaint-handling standards within most of the banks we assessed.

This resulted mainly from weaknesses in banks’ culture, particularly their governance arrangements, policies and procedures. As a result, five banks have either undertaken or are currently undertaking major changes to improve their complaint handling and two banks have been referred to our Enforcement Division for further investigation.



Retail Banking: Getting the Right Framework and Regulatory Regime

[EXC]

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

I'm very interested to see whether any of the banks supporting the JR have actually made efforts to implement the PS10/12 measures

Well here's your answer - no. But hardly surprising I spose.

Banks defy FSA on PPI rules

By Josephine Cumbo
Published: November 26 2010 17:11 | Last updated: November 26 2010 17:11

Big lenders, including government-backed banks, are refusing to adopt new standards for dealing with payment protection insurance complaints, as they deepen their dispute over regulatory reforms.

New guidance for PPI complaints handling is due to come into force from December 1 to stop so many complaints being rejected by companies but later upheld in the consumer’s favour by the Financial Ombudsman Service.

However, the British Bankers’ Association (BBA) said most of its members will not be applying the new standards while they are locked in a legal dispute with the Financial Services Authority (FSA) over its wider market reforms. “While there is a legal challenge, the issue of implementing the rules falls away,” said the BBA.

The BBA’s stance means that all PPI complaints – apart from those related to claims payouts – will grind to a halt, pending the outcome of a Judicial Review set for late January.

In October, major lenders including Lloyds Banking Group put tens of thousands of disputes on ice, claiming they would be affected by the Judicial Review. Even so, the FSA said it expected companies to apply the new guidance from December 1, and warned it will take enforcement action if necessary.

PPI – designed to repay loans in the event of accident, illness or redundancy – has been the subject of more than 1m complaints in the past five years.

FT.com / Money / Current Issue - Banks defy FSA on PPI rules

Banks defy FSA on PPI rules - Yahoo! UK & Ireland Finance

[merlindayana]

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