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

[Angry Cat]

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

Stephen Hester is only interested in Profit and not the consequence of the RBS Groups, reputational damage.

And clearly, Mr. Hester is not interested in retrspective PPI claims?
Even though the RBS Group subscribed to the ABI code re: the selling of gereral insurance and the the GISC code.

http://citywire.co.uk/money/rbs-warn...profit/a490367

About time that the 'Reckless and Irresponsible' Royal Bank of SCOTLAND, changed its' tune!

All eyes will be on RBS, not forgetting of course, the other members of the motley crew e.g. MBNA, Capital One, CitiGroup etc...

I cannot find anything about Barclays stance re: the possible BBA Appeal?

[cappo]

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

Phewee, what a Pong:

http://www.martinfrost.ws/htmlfiles/...l#Horta-Osorio

it,s nice to see a banker willing to put his money where his or her mouth is, congratulations Lloyds tsb you,ve finally joined the human race and did the right thing. Now it,s time for the rest of the banks to do the same,the judicial review is over it,s time to stop playing pat a cake and pass the buck and do the decent human thing because if the rest of the banks join in the appeal if there is one and lose those banks will be vilified now for all time

[Angry Cat]

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

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Presumably, the 'Other Major Banks' are not interested in their already sullied reputations?

Looks like even more bad press for RBS...

And, why are we still waiting for the RBS report?
http://www.guardian.co.uk/business/2...eport-into-rbs

Off topic, you may say but relevant...
http://www.thisismoney.co.uk/news/ar...moretopstories

[Angry Cat]

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

Phewee, what a Pong:

http://www.martinfrost.ws/htmlfiles/...l#Horta-Osorio

[Footynut]

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

someone i was talking to thought they had. Not seen or heard it myself.

[pompeyfaith]

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

Q. Why have we stopped selling PPI? We have been reviewing our PPI suite for some time as the market changes. Customers are generally looking for more flexibility and choice in terms of features and benefits to meet their individual circumstances.

A lie as they did not stop selling it until they where forced to by the FSA.

[Angry Cat]

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

http://www.bbc.co.uk/blogs/thereport...firewalls.html

[SoapyBubbles]

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

Have any other banks followed Lloyds in doing this. I heard that Barclays had as well??

Where did you hear this from please?

[Angry Cat]

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

Have any other banks followed Lloyds in doing this. I heard that Barclays had as well??

:
The British Bankers' Association (BBA) last month lost a judicial review against an attempt to overturn new rules on the sale of PPI.

The BBA has until Tuesday to launch an appeal against the verdict. However, Lloyds said it would not be backing the appeal. Mr Horta-Osório said: "I don't want to continue a long-running dispute with our regulator."

Several of the UK's other major banks, including HSBC, are backing the BBA's attempt to overturn the rules, which will cost them billions of pounds.

Presumably, the 'Other Major Banks' are not interested in their already sullied reputations?

Looks like even more bad press for RBS...

[di30]

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

Have any other banks followed Lloyds in doing this. I heard that Barclays had as well??

Hiya

I have not got round to checking yet, but is their website been updated perhaps?

Website here with details......edited to post this..

http://www.barclays.co.uk/Generalinf...P1242589649016

[pompeyfaith]

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

For anyone with pre 2005 claims and having a job researching the product sold to you this is a useful tool.

The wayback machine.

http://www.archive.org/web/web.php

[Footynut]

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

Have any other banks followed Lloyds in doing this. I heard that Barclays had as well??

[EXC]

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

''However, he [Stephen Hester] added that the Financial Services Authority was now likely to be “rather wedded to” the idea of settling the matter with the banks on a par with Lloyds’ arrangement''.

FT.com / Companies / Banks - RBS remains in the red with £116m loss

He's also quoted in The Times as saying (of PPI) that ''We haven’t made a provision in this quarter results although obviously we’re looking very closely at it,” Mr Hester said this morning. “As soon as we can narrow down what the appropriate figure is we will come forward with it.”

So not a question of whether RBS will have a liability but how much it will be. Doesn't sound like someone who thinks there's any chance of successfully appealing the Judicial Review then does it?

[Angry Cat]

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

An interesting article in, the Telegraph:
http://www.telegraph.co.uk/finance/n...-hit-10bn.html

[Angry Cat]

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

Stephen Hester, parachuted in as chief executive after the October 2008 bailout, said the figures showed progress was "continuing" as the bank tries to clamber back to sustained profitability after the record-breaking £24bn 2008 loss. He said Lloyds' decision not to continue in the BBA's legal action would not affect the legal analysis as to whether to appeal.