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

[pompeyfaith]

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

AC,

Just for you enjoy!!!!!!!!!!!!!!!!!!!!

[nelliewops]

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

AC,

Just for you enjoy!!!!!!!!!!!!!!!!!!!!

If AC's hat looks anything like that PF I might be sharing it, lol - although not sure ketchup and brown sauce would go with it

Personally as the pessimist of my family I fear they will appeal, but hope you and Di are right with your hunches!

[cappo]

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

If AC's hat looks anything like that PF I might be sharing it, lol - although not sure ketchup and brown sauce would go with it

Personally as the pessimist of my family I fear they will appeal, but hope you and Di are right with your hunches!

we,ll all know soon enough

[di30]

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

Lloyds surrender raises hopes of payouts on PPI as other banks may give up fight.


http://www.dailymail.co.uk/money/art...=feeds-newsxml


The banks' willingness to fight millions of borrowers who were wrongly sold insurance alongside their loans is crumbling.
Lloyds Banking Group effectively raised the white flag last week when it set aside £3.2 billion to cover the costs of assessing claims and paying compensation to those mis-sold payment protection insurance (PPI).
Its move should speed the way for Lloyds customers to apply for compensation. And it makes it more likely that other banks will back down. Lloyds had been part of a group of banks fighting a court action against the Financial Services Authority and the Financial Ombudsman Service over the rules for assessing mis-selling.



The banks, led by the British Bankers' Association, comprehensively lost in the High Court last month. The BBA and its members must decide by Tuesday whether to appeal.
But Lloyds, which includes Halifax and Bank of Scotland, says it wants to 'draw a line under the issue'. Chief executive Antonio Horta-Osorio, who joined from Santander in March, says: 'We do not want to continue a long-standing debate of this with the regulator.'
The bank has withdrawn from any further legal action. Lloyds was the biggest single seller of PPI with about 40 per cent of all policies in force.
Adam Phillips, chairman of the Financial Services Consumer Panel, says: 'The banks have got to change the way they treat customers. We hope the decision by Lloyds signals a change of approach.'
Richard Lloyd, executive director of consumer group Which?, says: 'The rest of Britain's banks must now follow suit and draw a line under the great PPI mis-selling scandal by withdrawing their legal challenge to the FSA and reimbursing the millions of customers who were mis-sold PPI.'


Taxpayer-owned Royal Bank of Scotland, the second-biggest PPI seller, told shareholders on Friday that it was still unable to estimate its liabilities for mis-selling, but admitted they could be 'material'. Tellingly, chief executive Stephen Hester said Lloyds' decision might now set a benchmark for future deals on PPI with the FSA.



Further details on above link.

[pompeyfaith]

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

After the FSA getting there estimate very wrong and they now saying the hit could be as high as £9 BILLIONS I think that is an under estimate aswell.

The product has been massively sold and many claims are or will be high so I can see this going above the £9 BILLION mark.

RBS are saying there exposure is £1BILLION that is too low for the second biggest seller.

[Angry Cat]

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

More like £10 Billion, PF

[Angry Cat]

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

Makes ones blood boil, doesn't it?

The Banks are whining about how much they may have to pay out in order to compensate customers who were mis-sold PPI; money they have taken and used elsewhere...

However, one of these banks appear to have forgotten the actual cost of bailing them out:
http://news.bbc.co.uk/1/hi/business/7666570.stm

[pompeyfaith]

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

AC,

Indeed lets not forget this is and was a financial wrong and they are not really taking a hit as it is money they should never of had.

The interest compouned thet they have made on those funds is a lot more than 8% out of reinvesting it.

Indeed after any refunds have been paid out they are still quids in, in real terms.

[MBD23]

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

The interest compouned thet they have made on those funds is a lot more than 8% out of reinvesting it.

no chance imo - they probably lent the lot to Greece and Ireland

------------------------------- merged -------------------------------
chief executive Stephen Hester said Lloyds' decision might now set a benchmark for future deals on PPI with the FSA.


??? and what would that be - work to the 8 week guidelines or take 6 months to review a claim after it has already been suspended for months?

[pompeyfaith]

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

MBD,

they do think claims will still take a while to resolve due to the backlog, and yes that is there fault not ours

[andrew1]

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

There are plenty of unemployed admin and clerical staff be only too please with some long term temp work to clear these...bet there's a few on here too..I used to supply Finance temps, wouldn't take long to drum up a team to sort this lot out.

[pompeyfaith]

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

Here we go as I expected:

Barclays follows Lloyds in dropping PPI legal fight

Barclays Bank is set to abandon the legal fight against personal protection insurance (PPI) mis-selling in a move which is likely to sound the death knell in the judicial battle that has caused controversy across the political spectrum.




By Kamal Ahmed, and James Quinn 7:45AM BST 08 May 2011 Follow Kamal Ahmed on Twitter
1 Comment


Barclays is expected to announce as early as Monday that it will no longer take part in the legal action over the scandal which saw thousands of customers mis-sold PPI they did not need.


Its decision will leave Royal Bank of Scotland and HSBC isolated on the issue. The move by Barclays, personally sanctioned by Bob Diamond, the chief executive, comes two days after Lloyds Banking Group surprised the market and its major competitors by announcing that it was the first of the UK's major banks to pull out of the legal action.

More here:

http://www.telegraph.co.uk/finance/n...gal-fight.html

http://www.telegraph.co.uk/finance/c...I-scandal.html

[leclerc]

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

kinda off topic, but I kinda agreed to eat my hat with AC re the appeal.
Does anyone know where to purchase edible hats?

[Angry Cat]

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

kinda off topic, but I kinda agreed to eat my hat with AC re the appeal.
Does anyone know where to purchase edible hats?

Here you go, leclerc:
http://www.fingertipstv.com/ourmakes...eid=216&step=3

[charitynjw]

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

http://www.trendhunter.com/trends/nacho-hat