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

[Chip Tuesday]

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

Can't believe this is STILL dragging itself out! I know they said they should be done by Easter, but the daffs are out, the Easter bunny's stocking up on choccie and the chicks are hatching out BUT STILL NO DECISION - buck up Ousley!

CT

[EXC]

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

Nothing back from the judge yet.

I'm wondering if one of the parties have raised any significant errors of fact that would entail more work on the judgment - just guessing though.

[di30]

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

Nothing back from the judge yet.

I'm wondering if one of the parties have raised any significant errors of fact that would entail more work on the judgment - just guessing though.

Good thinking EXC, maybe this is the case perhaps.

[di30]

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

Nothing exactly new as such really lol.


http://www.compliancy-services.co.uk...omplaints-rise

Which? blasts banks over PPI complaints rise
31 March 2011 at 18:38.


The UK's banks have been criticised by consumer watchdog Which? over the escalating number of complaints relating to payment protection insurance (PPI).

Figures released this week by the Financial Services Authority (FSA) reveal that the number of customer complaints made over PPI rose by 63 per cent in the second half of last year.
Which? claimed this figure shows that the mis-selling of PPI packages has been widespread throughout the financial services industry for some time.
It also accused banks of using an ongoing Judicial Review of FSA rules over the handling of PPI complaints to delay processing customer grievances.

"A 63 per cent increase in the number of PPI complaints shows the widespread mis-selling that's been going on for years," said Which? chief executive Peter Vicary-Smith
"With almost half a million PPI complaints made in six months, the industry has to stop trying to wriggle out of its responsibility to customers. We're also seeing a worrying trend of banks using the Judicial Review as an excuse to delay processing complaints."
The FSA's figures showed that Barclays Bank was the most complained about financial services firm in the second half of 2010 with 205,151 complaints received.

[MBD23]

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

Good old United Kingdom. Banks taking the P1ss legal system 5hite general public 5hat on..somethings never change

[The Debt Star]

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

perhaps the strategy is to wait until all the claimants die of old age?

[mosten]

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

You would have thought they would have released a statement considering how many people and firms/banks are waiting on this decision..

Even if it was just telling us estimated time for the judgement...

[di30]

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

Just a little info of the JR decision found whilst browsing.

http://ppi-mis-selling.co.uk/index.php/archives/100

PPI JUDICIAL REVIEW – UPDATE

Posted on April 5, 2011

The outcome of the Judicial Review into PPI Redress is expected shortly. Whilst a decision has been reached, it will not be made known until officially handed down by the Judge. This is expected as soon as the legal teams of the various parties can fix an avaialble date in the Judge’s calendar.
The Judicial Review (JR), which commenced at the end of January, was instigated by the British Bankers Association (BBA) against the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS), challenging the ability of the FSA to impose fines for breaches by lenders of certain rules and regulations rules as well as challenging the calculation methodoly for determing consumer redress. The legal challenge is expected to run on, even after the Judge has delivered his decision, as it is likely to be challenged by the losing party.

Daniella Lipszyc, a leading solicitor in this area of law comments “I hope, for the sake of consumers, that this matter is resolved without further delay. I am concerned, however, that the decision handed down will be appealed and consumers will face another long wait before getting the redress they are entitled to.”

[leclerc]

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

You would have thought they would have released a statement considering how many people and firms/banks are waiting on this decision..

Even if it was just telling us estimated time for the judgement...

In no judicial cases are statements given out during the decision making process. Statements may be provided when the judgement is handed down but not before. It would be crazy to think otherwise regardless of public interest.
------------------------------- merged -------------------------------

Just a little info of the JR decision found whilst browsing.

http://ppi-mis-selling.co.uk/index.php/archives/100

PPI JUDICIAL REVIEW – UPDATE

Posted on April 5, 2011

The outcome of the Judicial Review into PPI Redress is expected shortly. Whilst a decision has been reached, it will not be made known until officially handed down by the Judge. This is expected as soon as the legal teams of the various parties can fix an avaialble date in the Judge’s calendar.
The Judicial Review (JR), which commenced at the end of January, was instigated by the British Bankers Association (BBA) against the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS), challenging the ability of the FSA to impose fines for breaches by lenders of certain rules and regulations rules as well as challenging the calculation methodoly for determing consumer redress. The legal challenge is expected to run on, even after the Judge has delivered his decision, as it is likely to be challenged by the losing party.

Daniella Lipszyc, a leading solicitor in this area of law comments “I hope, for the sake of consumers, that this matter is resolved without further delay. I am concerned, however, that the decision handed down will be appealed and consumers will face another long wait before getting the redress they are entitled to.”

Daniella, knows full well that if the decision goes against the banks and is appealable, then it will be appealed. She's giving the mass media nonsense rubbish that we want to hear and not the rational answer that she would give in private.

Her views in January was this:

"The Judicial Review application has given bank the excuse to avoid properly processing most claims to full conclusion, to the extent that the Financial Services Authority (FSA) issued a press release on Friday last, reminding the banks of their regulatory obligations. In particular, they have been told not to issue standard or generic responses to complaints, having the effect that all or substantially all complaints are not issued with a final response during the Judicial Review. The FSA advises lenders that they expect all PPI complaints to be individually in order to consider whether or not its resolution is dependent on the outcome of the Judicial Review.

Whilst the Judicial Review hearing will be completed by the end of the week, the Court’s decision is not expected until Easter. Whatever the outcome, an Appeal is expected.

I expect the delays will continue until there is a final outcome. Ever since the Judicial Review Application was made, the banks have blatantly ignored the directions and advice given to them by the FSA. The FSA have appeared impotent and the banks have demonstrated that they are ungovernable under the current regulatory regime.
The banks have been fined millions of pounds over the selling of PPI products and other consumer products” she says. This month alone, Barclays were fined £7.7m for serious failings in selling of financial products and NatWest was fined £2.8m for poor complaint handling.
On a more optimistic note for the consumer, the judicial review could decide that there was an unfair relationship when lenders were selling PPI to consumers and not disclosing the commission they were making. In the past, many judges have ruled this it wasn’t an unfair relationship, notwithstanding hidden commissions of 80-ish percent. I – and quite a few others – don’t agree.

I’ve no doubt that a high proportion of people would not have purchased their policies if they knew how much money the bank was making in commission. I hope that the review recognises this – we shall see"

[The Debt Star]

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

Christmas it is then

[MBD23]

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

Christmas it is then

2012?

[Angry Cat]

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

I hate to reiterate my former post but;
you are all in for a long wait...

[ncf355]

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

Surely the hope would be that if FOS/FSA win the current round and the BBA go for appeal (though I thought someone said back a ahile there is no direct route of appeal for a JR?) that the FSA would be somewhat more draconian in there approach to ensuring the banks then process claims whilst we await any appeal?

Its quite apparent that FOS cannot survive in the current stalemate situation - who knows, something may be in the works from the FSA anyway?

[Paul210]

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

Something to think about - Lets assume that:

Decision comes back claim against FOS out of time therefore FOS approach remains the same. Claim against FSA partially successful in that the policy statement cannot be made retrospective and banks do not have to investigate all histpric ppi sales unless a specific complaint is made, effectively position stays the same as pre october.

Do we then think either side will appeal decision and should/could the banks be forced to investigate claims in meantime using the same process/criteria as pre october?

Suspect I know the answer and that the banks will argue to continue hold on cases no matter who wins/appeals but thought I would throw the questions out there anyway - Any thoughts??

[leclerc]

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

I won't speculate on a bank win. Simply that if they lose they will appeal it if they can.