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

[EXC]

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

EXC,

Is there an online copy of the letter before claim?

CT

No. The court would have a copy but they won't make LBAs publicly available.

Obviously I wanted it so we'd have an idea of the FSA's defence but we'll have to wait until after the 15th when the FSA file their grounds of resistance and become available from the court.

[Chip Tuesday]

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

Is the 15th the date that the FSA will file, or is it the date (presumably after 21 days?) that the infor will become available?

CT

[EXC]

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

Their extension to filing the grounds of resistance is to the 15th and the court said that they'll be available ''shortly afterwards''.

[anaellie]

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

hi
can anyone tell me why MSE is suggesting the whole process may stop when courts will still be an option

[Chip Tuesday]

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

hi
can anyone tell me why MSE is suggesting the whole process may stop when courts will still be an option

Personally I think that MSE has got the wrong end of the stick here. The PPI JR process isn't looking anything like the bank charges fiasco. With bank charges it was the regulators who issued a waiver on complaints, not the banks refusing to look at them. Also this JR is on very specific grounds: the FSA's policy statement and it's (debateable) retroactive effect, and the FOS's "guidence" on their website. So even if the JR goes against the FSA & FOS I don't see why PPI would unceremoniously "grind to a halt".

... MSE fear mongering!

CT

[mids]

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

It is a mis-conception that 'court action' will be an option open to claimants. MSE have already woken up to the enormity of the situation. The banks are about to walk away from millions of mis-sold policies on a simple technicality. Its frustrating for sure but is reality Im afraid.

[Chip Tuesday]

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

Mids, I don't believe so. I believe that even if the policy statement is quashed it will do nothing more than to take us back to how complaints stood during the summer. I don't think that it will come to individuals taking banks to court.

Having said that, if the BBA are planning a full-on attack on Principal-based regulation it could turn out differently. But even then the rules of a JR state that the action must be brought within 3 months of the event, so I don't see how they would be allowed to complain against Principal based regulation.

Mids, what is your take on this?

CT

[EXC]

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

Personally I think that MSE has got the wrong end of the stick here.

I agree. And referring to the Judicial Review as a ''test case'' doesn't add to the credibility of the story either.

[anaellie]

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

It is a mis-conception that 'court action' will be an option open to claimants. MSE have already woken up to the enormity of the situation. The banks are about to walk away from millions of mis-sold policies on a simple technicality. Its frustrating for sure but is reality Im afraid.

what is the technicality

[EXC]

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

I think mids is possibly being over simplistic in describing the BBA's case as a ''simple technicality''. The BBA's claim runs to 89 pages which you can read here Copies of official Judicial Review paperwork - Bba/Banks v FSA/FOS - Legal Beagles Consumer Forum

[EXC]

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

Just an update from the court - the grounds for resistance from both the FSA and FOS are now due to be filed with the court by 4.30pm next Friday (10 December) and should be made available to us the following Monday (13 December).

[EXC]

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

A BBC Radio 5 Live interview with Adam Phillips, Chairman of the FSA's Financial Services Consumer Panel.

Fast forward to 20.00 to listen BBC iPlayer - Wake Up to Money: 01/12/2010

[Chip Tuesday]

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

Morning all,

The iPlayer intervie opens with the interviewer outlining the current position, including the BBA boycott of complaint handling, and asks "can they get away with this" to wich Adam Phillips replies "yes, they can".

Is this true? I was under the impression that PPI complaints handling could only be officially put on hold by the court, by the FOS or by the FSA themselves. Any ideas what this is about, and presumably does this mean that the FSA doesn't intend to repremand those who are not complying?

Ahh!

CT

[EXC]

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

Morning all,

The iPlayer intervie opens with the interviewer outlining the current position, including the BBA boycott of complaint handling, and asks "can they get away with this" to wich Adam Phillips replies "yes, they can".

Is this true? I was under the impression that PPI complaints handling could only be officially put on hold by the court, by the FOS or by the FSA themselves. Any ideas what this is about, and presumably does this mean that the FSA doesn't intend to repremand those who are not complying?

Ahh!

CT

Yes I caught that too. Maybe he just meant that there's not much you could physically do about it, as opposed to going through the hoops of enforcement action which could take time.

[mids]

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

Philips meant exactly what he said. The BBA can get away with this and are doing so. We need to ask ourselves why the FSA are doing so very little?