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

[EXC]

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

I think what he means is that if it was a potential issue before it is a potential issue now and may as well be dealt with.

[leclerc]

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

I would also add why would they settle issues using the 2008 guidance and then only challenge it when the FSA state that they have to look retrospectively at cases? To me, part of their argument is lost in as much as challenging the 2008 guidance. Retrospectively looking at cases might not necessarily be out of the equation.

[leclerc]

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

Sorry an error has occurred

Originally I thought this was best here but not so sure but what the hell, things are slow here at the moment.

[di30]

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

Does this include lloyds customers/Cheltenham & Glos I wonder? Looks like just Halifax customers at the moment.

[leclerc]

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

Does this include lloyds customers/Cheltenham & Glos I wonder? Looks like just Halifax customers at the moment.

It looks to me as though they are looking at Halifax customers closely and the products that were sold. Clearly they are making payments to avoid additional costs on consumer litigation. As I know CMC's are on this thread, I suggest they take a very close look at all products and how they were sold.

[Angry Cat]

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

Halifax were fined 1.55 Million in 2009.

[EXC]

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

Spoke to the court and there is still no listing yet for the judgment. As there is a lead time of at least 3 days (while the judgment is embargoed) it almost certainly won't be this week.

[pompeyfaith]

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

My mortgage is with Halifax taken out in 2006 what do I have to do? find the mortgage offer letter ?

[EXC]

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

My mortgage is with Halifax taken out in 2006 what do I have to do? find the mortgage offer letter ?

There's a number you can call at the end of their announcement.

Halifax Mortgages - Halifax Standard Variable Rate announcement

[pompeyfaith]

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

Thanks Exc looks very much like I am affected but to be sure I will get the offer letter out with the yearly statements

[cappo]

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

Thanks Exc looks very much like I am affected but to be sure I will get the offer letter out with the yearly statements

lets hope there,s a chance of you claiming something back p.f that wouid be nice

[cappo]

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

Does this include lloyds customers/Cheltenham & Glos I wonder? Looks like just Halifax customers at the moment.

i hope hsbc are the next one,s that wouid be a result and of course c&g

[EXC]

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

''The Association of British Insurers has called into question whether the Financial Ombudsman Service needs to raise the levy to cover the costs of future payment protection insurance complaints.

Last month the FOS published its consultation on its annual corporate plan and budget for 2011/12. It outlined plans to request an increase of up to £30m in the industry levy if firms stop paying case fees pending the outcome of the British Bankers’ Association judicial review into PPI.

The FOS warned that its reserves would be exhausted within six weeks if firms decided to stop co-operating on PPI complaints.

But in the ABI’s response to the consultation director of life and savings Helen White says: “We welcome the FOS’ commitment to improving its operational efficiency. However, we do question whether the FOS’ request to substantially increase their reserves – and thus the levy on firms - is actually required.

“The main reason for them wanting to do so is the impact that the banks’ judicial review of PPI complaints may cause. Yet the FSA has already confirmed that it expects the majority of PPI complaints to be dealt with by firms, so the FOS is unlikely to see a significant reduction in case income.”

White adds the FOS should explain why an overdraft facility cannot be used instead of raising the industry levy.

The BBA launched a judicial review into PPI complaint measures by the FSA and certain decisions made by the FOS in October, with the trade body and the regulator putting forward their respective cases at a High Court hearing in January. The ruling is expected over the coming weeks.''


ABI questions need for FOS levy increase | News | Money Marketing

I suspect Helen White has misunderstood what the FSA has said. In saying that it ''expects the majority of PPI complaints to be dealt with by firms'' surely the FSA mean that they should rather than they actually will.

[cappo]

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

''The Association of British Insurers has called into question whether the Financial Ombudsman Service needs to raise the levy to cover the costs of future payment protection insurance complaints.

Last month the FOS published its consultation on its annual corporate plan and budget for 2011/12. It outlined plans to request an increase of up to £30m in the industry levy if firms stop paying case fees pending the outcome of the British Bankers’ Association judicial review into PPI.

The FOS warned that its reserves would be exhausted within six weeks if firms decided to stop co-operating on PPI complaints.

But in the ABI’s response to the consultation director of life and savings Helen White says: “We welcome the FOS’ commitment to improving its operational efficiency. However, we do question whether the FOS’ request to substantially increase their reserves – and thus the levy on firms - is actually required.

“The main reason for them wanting to do so is the impact that the banks’ judicial review of PPI complaints may cause. Yet the FSA has already confirmed that it expects the majority of PPI complaints to be dealt with by firms, so the FOS is unlikely to see a significant reduction in case income.”

White adds the FOS should explain why an overdraft facility cannot be used instead of raising the industry levy.

The BBA launched a judicial review into PPI complaint measures by the FSA and certain decisions made by the FOS in October, with the trade body and the regulator putting forward their respective cases at a High Court hearing in January. The ruling is expected over the coming weeks.''


ABI questions need for FOS levy increase | News | Money Marketing

I suspect Helen White has misunderstood what the FSA has said. In saying that it ''expects the majority of PPI complaints to be dealt with by firms'' surely the FSA mean that they should rather than they actually will.

hi exc,the ABI will be wanting a j.r to decide the fos levy next! :seagull:

[pompeyfaith]

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

White adds the FOS should explain why an overdraft facility cannot be used instead of raising the industry levy.

The FOS getting an overdraft from the banks to deal with consumer banking complaints lol I'm sure that will go down well.

The banks would probably call the overdraft in and thus bankrupt the FOS :tinysmile_aha_t: is that really there aim?

Just reading between the lines