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

[leclerc]

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

As it is a business they would charge an arrangement fee, probably increase their quarterly banking charges and enjoy the debit interest from them.

[EXC]

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

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

I suppose they could in theory but any action would have to be taken against the FSA who are ultimately responsible for agreeing and setting the Ombudsman's budget.

[MBD23]

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

IMA mulls judicial review of FSCS levy

Author: Laura Miller
IFAonline| 04 Feb 2011 | 14:00
Categories: Industry
Tags:fscs| APCIMS| ima





The Investment Management Association (IMA) is considering bringing a judicial review of the FSCS interim levy on behalf of its members, in the same week IFAs have erupted in open revolt over the issue.
A spokesperson for the IMA says the organisation is in talks with the FSA, the FSCS and lawyers about the levy which has hit fund managers for £233m.
An IMA-led judicial review is "under consideration" but the spokesperson would give no further details for fear of jeopardising talks with the regulator.
Related articles

• IMA revealed as mystery frontrunner in Lifemark...
• Bamford FSCS petition receives 678 signatures
• Liontrust forks out £415k for FSCS levy
• IFA forced to up charges after £11k FSCS levy...
• AIFA defends actions as £58m Keydata levy row...

The move comes as investment advisers, who are outraged at being forced to pay £93m of the £326m interim levy, have organised an FSCS Levy Action Group to fight the bill.
Compensation costs linked to the failure of Keydata was the primary cause of the huge rise, the FSCS says, as well as other intermediary firms and stockbroker Wills & CO.
Meanwhile, the Association of Private Client Investment Managers and Stockbrokers (APCIMS) says it is organising a meeting between its members and the FSCS "as soon as possible" to discuss the levy.
A spokesperson says APCIMS is trying to get the FSCS to allow firms longer than the current 30 days to pay their bill.
"The process could have been handled better. The FSCS have never levied such a large amount and we are just trying to deal with it for our members," she says.



Read more: http://www.ifaonline.co.uk/ifaonline...#ixzz1EkEMLBsG
IFA Online - News, blogs and analysis for IFAs. Visit the website now.

[EXC]

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

PPI issues spark Lloyds complaints
(UKPA) – 27 minutes ago

Lloyds Banking Group saw a 14% jump in the number of customers who complained during the second half of 2010 as it continued to be dogged by disputes over controversial payment protection insurance.

The taxpayer-backed group received 329,761 complaints during the six months to the end of December, up from 288,717 during the first half of the year.

The increase was driven by a jump in the number of consumers complaining about payment protection insurance, with disputes on this issue soaring by 69% to 148,300, as claims management firms encouraged customers to contact the bank about mis-selling.

But banking complaints actually fell by 12% during the period to 154,555, after the group introduced a range of measures to improve the way it dealt with customer grievances. Martin Dodd, customer services director at Lloyds Banking Group, said: "We still have a lot of work to do in this area to reduce overall complaints. "Our customers tell us the two areas we need to improve are the length of time it takes to resolve complaints and the perception that the bank is not taking sufficient ownership of them. We are committed to getting this right."

In a bid to reduce the number of customer disputes that become formal complaints, the group has retrained 40,000 frontline staff, such as those who work in branches and in call centres, so that they can resolve complaints immediately.

Around 90% of complaints are now resolved when the customer first raises the issue, with staff able to call the group's new specialist "Phone a Friend" team if they do not have the expertise to settle the dispute themselves.

The system was introduced in October last year, and all of the 12% reduction in complaints was seen during the final quarter of the year.

Data from the Financial Services Authority showed that Lloyds Banking Group received more complaints than any other financial services group during the first half of 2010, the latest period for which comparative figures are available.


The Press Association: PPI issues spark Lloyds complaints

[EXC]

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

[leclerc]

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

To be honest, and to give them a certain amount of credit, they did take on HBOS group and they have already more or less disowned Halifax on PPI related matters.
Do we know the share of PPI related sales that they have in the market?

[EXC]

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

To be honest, and to give them a certain amount of credit, they did take on HBOS group and they have already more or less disowned Halifax on PPI related matters.
Do we know the share of PPI related sales that they have in the market?

Figures for 2005 give Lloyds 14% and HBOS 13% by market share.

Pages 17 & 18 http://www.oft.gov.uk/shared_oft/rep...869annexea.pdf

[leclerc]

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

so with 27% share its hardly surprising that their share is higher as more and more people complain.

[EXC]

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

so with 27% share its hardly surprising that their share is higher as more and more people complain.

Indeed but it's no excuse.

The FSA are due to publish complaints data for all companies (for the second half of 2010) next Tuesday and so maybe Lloyds have published their's now to pre-empt it in some way.

[leclerc]

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

Exc, the article states that the data is from the FSA so Lloyds Banking Group did not release the data(just been on their Group website for any further info and there's none).
Well the above statement is wrong having finally found the figures on the LloydsGroup Banking site......thanks to them for making it so easy to find...not among the press releases at the time either, GRRRR!!

[leclerc]

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

FFS!!!! Lloyds corporate site is bloody irritating.

Lloyds Banking Group plc - Complaints Data H2
Got it and it's down as complaints from January to June 2010.
You can see a brand by brand breakdown btw.

[EXC]

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

As I understand it the FSA requires banks to publish their own data which also gets published by the FSA. I suspect Lloyds wanted to publish their own now so that it can't be compared with anyone else's.

As the Guardian puts it ''Britain's biggest bank, which encompasses Lloyds TSB, Halifax and Bank of Scotland with a total of 30m accounts, published the figures ahead of a regulatory deadline for every major bank to reveal its complaints data.''

Lloyds customer complaints rise to 2,000 a day | Money | guardian.co.uk

[Angry Cat]

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

Anyone know the status of MBNA PPI Claims;
are they all on hold?

[Paul210]

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

Anyone know the status of MBNA PPI Claims;
are they all on hold?

They are all on hold - confirmed by their comp dept over phone last week.

[Angry Cat]

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

They are all on hold - confirmed by their comp dept over phone last week.

Thanks paul210!