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

[pompeyfaith]

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

The link on post 778 is broken I think, can anyone else view it.

This is the message I'm getting

Not Found

The requested URL /FSA_JR_Grounds_Legalbeagles.pdf was not found on this server.

[EXC]

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

The link on post 778 is broken I think, can anyone else view it.

Me neither but this one works http://www.legalbeagles.info/FSA_JR_...galBeagles.pdf

[Footynut]

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

Do we think that any claims submitted by CMC's will pay out after the review. Say for instance the FSA win and the BBA appeal the outcome, are those complaints submitted by CMC's likely to stay on hold until a new date is pencilled in?

[leclerc]

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

Do we think that any claims submitted by CMC's will pay out after the review. Say for instance the FSA win and the BBA appeal the outcome, are those complaints submitted by CMC's likely to stay on hold until a new date is pencilled in?

If there is an appeal then the legal status remains unresolved so until a final decision is made then yes they would remain on hold(same as with bank charges test case).

[Amethyst]

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

Sorry, I have fixed the link - I'd missed a capital B in Beagles xx

[EXC]

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

If there is an appeal then the legal status remains unresolved so until a final decision is made then yes they would remain on hold(same as with bank charges test case).

I don't agree. Unlike the test case that was arranged with the agreement of the regulators, the Judicial Review is a unilateral challenge to the authority of the regulator - without agreement. If that authority is upheld by a court then it stands until such time as it is overturned on appeal. A judgment is a judgment.

That's not to say that the banks will not take it upon themselves to hold up paying out but the FSA have a statutory obligation to enforce their complaints handling rules, whereas during the test case the waiver discharged them of that obligation.

[leclerc]

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

If the banks refuse to give a final response(on the basis of an appeal) then how can the FOS proceed with dispute resolution and redress? The banks would simply not pay up so there is no resolution.

[EXC]

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

If the banks refuse to give a final response(on the basis of an appeal) then how can the FOS proceed with dispute resolution and redress? The banks would simply not pay up so there is no resolution.

The FSA has jurisdiction to enforce it:

What’s the role of the FSA and the OFT if a business won’t pay?
Businesses that are regulated by the FSA – and are covered automatically by the ombudsman service – are required under the FSA’s rules to co-operate with the ombudsman. This includes complying with any decision that ombudsmen may make.
Similarly, businesses with a standard consumer credit licence issued by the OFT are covered automatically by the ombudsman service – and are required to do as the ombudsman says.

The FSA and the OFT are separate organisations from the ombudsman service. They have their own powers in relation to the businesses they regulate or license.

We can pass information to the FSA and the OFT about any business they regulate or license that fails to co-operate with us. The FSA can – and does – take action against firms it regulates that refuse to do what the ombudsman has requested. And the OFT can take away or restrict the licence of businesses that break the rules.

This kind of regulatory action is entirely separate from our own work at the ombudsman service.

http://www.financial-ombudsman.org.u...l_decision.pdf

[leclerc]

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

The question would be, whether they would take action on this should the BBA lose their action and that they appeal that decision. I would doubt it if there was an appeal.

[SoapyBubbles]

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

Afternoon guys and girls.....

Just been off phone with MBNA who have took 12 weeks to tell me my complaint is on hold because of you know what. Thought they might of sorted it without the intervention of the FOS but they have left me no choice.


So with reference to the Judicial Review can someone please explain in simple terms

(1) What are the chances of the consumer winning this case?

(2) What are the chances of the banks winning this case?

(3) What are the estimated time limits to reach the final decision including if any party appeals?

(4) Aren't the banks robbing ******s!?

[EXC]

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

Afternoon guys and girls.....

Just been off phone with MBNA who have took 12 weeks to tell me my complaint is on hold because of you know what. Thought they might of sorted it without the intervention of the FOS but they have left me no choice.


So with reference to the Judicial Review can someone please explain in simple terms

(1) What are the chances of the consumer winning this case?

(2) What are the chances of the banks winning this case?

(3) What are the estimated time limits to reach the final decision including if any party appeals?

(4) Aren't the banks robbing ******s!?

1 & 2 Who knows? In my view having read the FSA's response and re-read the BBA's claim I do find it difficult to believe that the BBA could get anything significant from this. I think their claim against the FOS has little chance of getting heard, let alone being won.

3 In theory the losing party could apply to appeal to the Court of Appeal and again to the Supreme Court and should that happen I reckon a final judgment in about 15 months. But I think a lot would depend on the strength of the initial judgment as to whether an appeal application would be granted.

4 Indeed.

[EXC]

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

''Lloyds TSB gets advert banned by ASA over PPI claims''

''Lloyds TSB have successfully challenged a claims firm's advert on payment protection sales for using out of date data.......

http://www.mortgagestrategy.co.uk/la...023950.article

[Amethyst]

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

Or the facts ASA Adjudication on Premier Financial Recoveries LLP - Advertising Standards Authority

It was an email ad.

Lloyds do enter an awful lot of complaints to the ASA


It was banned mainly because they used FSA and CAB logos without authorisation

and said

''
Lloyds TSB Bank Plc challenged whether:
1. the use of the Financial Services Authority logo and Citizen's Advice Bureau logo misleadingly implied they endorsed Premier Financial Recoveries LLP.
2. the claim "If you took out any kind of a loan or mortgage in the last 6 years, it's 70% likely you have paid a PPI" could be substantiated.''





Because the FSA report found 70 per cent PPI penetration rates in a few firms out of 30 less compliant firms only, and the statistics were dated, we did not consider the report substantiated the claim, and concluded the ad was misleading on that point.
On this point the ad breached CAP Code (Edition 12) Clauses 3.1 (Misleading advertising) and 3.7 (Substantiation).

[Chip Tuesday]

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

I've just got round to reading the FOS grounds of resistance, they seem to have a VERY stong case for te BBA not having the permission granted. here's hoping

CT

[pompeyfaith]

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

Latests what's new in FSA Handbook, just had an email with this notification.

http://www.fsahandbook.info/FSA/whatsNew.jsp