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

[pompeyfaith]

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

A spokesman for HSBC said the impact of any compensation would be "fairly minimal", as it stopped selling PPI products in 2007, but that it would press ahead on a "point of principle".

He said: "With anything there is that (reputational risk]. It is all about points of law or clarity of principle. It is not about a product.

"We were abiding by the rules that were in place at the time. Can they change the goal posts?"

urrm yes they can because consider this, had you dealt with complaints fairly in the first place where would have been any need to change the rules.

Sorry Banking Industry you all brought this on you yourselves as you all failed to investigate complaints properly and turned down many that where justified on first letter.

[pompeyfaith]

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

Di,

Love the advert just above the headline lol

RBS Financial Planning

http://business.scotsman.com/busines...ick.6764263.jp

[di30]

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

And more here.

http://business.scotsman.com/busines...ick.6764263.jp

Lenders' appeal would be 'kick in teeth' for customers





THREE UK banks are expected to make "last minute" decisions over whether or not to press ahead with a legal appeal over liability for mis-selling payment protection insurance.

Royal Bank of Scotland, Barclays and HSBC are this weekend mulling over the prospect of angering millions of customers by backing an appeal against a High Court ruling forcing them to reimburse those who were mis-sold PPI since 2005.

[di30]

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

This was updated tonight at 10:06 PM

http://www.dailymail.co.uk/money/art...g-scandal.html

Could be announced as early as today!



Barclays is the latest bank set to cave–in over the payments protection insurance mis-selling scandal.



Chief executive Bob Diamond could announce as early as today that Barclays will join Lloyds in abandoning its legal challenge with the Financial Services Authority.

The British Bankers’ Association, which is acting on behalf of the banking industry, recently lost a High Court challenge against new FSA rules on mis-selling PPI being applied retrospectively.

Pulling out? Barclays could join Lloyds in abandoning its legal challenge with the FSA, leaving out HSBC and Royal Bank of Scotland


Read more: http://www.dailymail.co.uk/money/art...#ixzz1LnrDmXgX

[di30]

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

Looks like our hunches are right PF up to now .
It will be in the media tomorrow about the announcement of Barclays I think, well to confirm it anyway, then others will follow on.....fingers crossed.

------------------------------- merged -------------------------------



Editing, yes AC, I believe so too, there will be obstacles.

[Angry Cat]

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

Remember Guys, the show isn't over yet.
Not the time for throwing hats in the air or, eating them either.

And, even if the judgement is not appealed, there are many obstacles to overcome...

Best to wait and see!

[pompeyfaith]

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

what is the next big thing on misselling(I think I know already but what about everyone else?)

Packaged Accounts yes ......... no come on then Leclerc do not keep us all in suspense spill the beans man I may even let you off eating that hat!!!!!!!!!!!!!!!!

Now there's a bargain.

[di30]

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

A big Thank You to everyone for keeping people like me informed. I've said it once before and I absolutely mean it. This is the BEST RESOURCE on PPI (judicial review)on the internet. Nothing else gets close.

The Barclays news has come as a pleasant surprise. I was not expecting it at all.

Yes its looking good and hopeful now for other banks to do the same thing, i do certainly hope so.

[leclerc]

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

the big question is what are we all going to talk about when this is all over lol

I have to say, that should I be eating my hat, that it is gonna be the question I have cos I've been on the forums since the bank charges stuff, stuck around and was disappointed by that result. We got the PPI court case and would appear to have won which is a nice feeling to have but what is the next big thing on misselling(I think I know already but what about everyone else?)

[morpheus]

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

A big Thank You to everyone for keeping people like me informed. I've said it once before and I absolutely mean it. This is the BEST RESOURCE on PPI (judicial review)on the internet. Nothing else gets close.

The Barclays news has come as a pleasant surprise. I was not expecting it at all.

[di30]

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

the big question is what are we all going to talk about when this is all over lol

I'm sure we will think of something , there is always something that involves the banks...LOL.

[leclerc]

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

It's clear from the the media coverage of both Lloyds & Barclays withdrawal of support for the BBA's appeal is a result of an arrangement with the FSA - it's been mentioned several times.

I think that any bank which doesn't disassociate itself with any appeal before the BBA decide whether to appeal or not will pay a heavy price for not doing so.

In my view those banks will be spared any fines for not implementing the measures in the Policy Statement in December as they should have. I don't think those banks will be spared the ''tough action'' the FSA promised to take on banks who erroneously suspended complaints that weren't directly related to the outcome of the Judicial Review.

This was made very clear in the FSA's letter to Trade Associations:

''We have since become aware that some firms are placing on hold nearly all of their PPI complaints, citing the Judicial Review as cause. We have also read with concern, statements made by some Trade Associations indicating that in their view, the measures contained in PS10/12 are not relevant whilst the Judicial Review is ongoing''.

http://www.fsa.gov.uk/pages/consumer...ppi_letter.pdf

Oddly enough about 6 weeks prior to the publication of the letter, an internal BBA member's document - a weekly summary of banking and finance coverage in the media - mysteriously found it's way into my inbox (attached) and which stated that the FSA Policy Statement ''........didn’t matter much given most [complaints] were on hold''.

The document was duly forwarded the FSA's Whistleblower department for which a grateful response was received.

The "leaked" document is quite dismissive really with regards to PPI and JR. Unbelievable how little they regard the press, it appears as though their press summaries are simply in these terms, " bank bashing", " that old chestnut yet again" "bored" and "who cares"(think the advert for underdog company .

[pompeyfaith]

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

http://www.hrmagazine.co.uk/hro/news...-yougov-survey

[pompeyfaith]

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

the big question is what are we all going to talk about when this is all over lol

Cappo,

Good question, however there should be plenty of refunds coming in so that will keep us all busy for a while.

[pompeyfaith]

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

I think that any bank which doesn't disassociate itself with any appeal before the BBA decide whether to appeal or not will pay a heavy price for not doing so.

In my view those banks will be spared any fines for not implementing the measures in the Policy Statement in December as they should have. I don't think those banks will be spared the ''tough action'' the FSA promised to take on banks who erroneously suspended complaints that weren't directly related to the outcome of the Judicial Review.

That was my view also a couple of pages back so spot on

Oddly enough about 6 weeks prior to the publication of the letter, an internal BBA member's document - a weekly summary of banking and finance coverage in the media - mysteriously found it's way into my inbox (attached) and which stated that the FSA Policy Statement ''........didn’t matter much given most [complaints] were on hold''.

The document was duly forwarded the FSA's Whistleblower department for which a grateful response was received.

Opps who checked there mailing lists