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

[TUTTSI]

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

Had lunch with a Barclays manager with my boss yesterday and he confirmed that all PPI claims would be paid speedily as they had set the 1 billion aside for this. Well lets hope he is right and that all banks adopt the same attitude, it will certainly be interesting to see.

Barclays amendment to their accounts.


"Tackling poor PPI sales practices remains a priority for the FSA who issued a Policy Statement on 10th August, 2010 which amends the DISP (Dispute Resolution: Complaints) rules in the FSA Sourcebook for the handling of such complaints. Firms were initially required by the FSA to implement the new measures by 1st December, 2010. In October 2010, the British Bankers’ Association launched a judicial review of the FSA on the basis that the Policy Statement applies incorrect standards for the management of PPI sales complaints, including retrospective application of rules with higher standards than those in place at the time of sale. These proceedings were also against the Financial Ombudsman Service which seeks to implement the same standards for the resolution of complaints referred to it.

The judgment on the judicial review proceedings was announced on 20th April, 2011 in favour of the FSA and the Financial Ombudsman Service. On 9th May, 2011, the Bank announced that it will not participate in any application for permission to appeal against the judgment and it will begin to process all on-hold and any new complaints from customers about PPI policies that they hold. While important aspects of the handling of PPI complaints, and therefore the cost of doing so, were not as at 11th May, 2011 certain, the Bank is taking a provision to cover the cost of future redress and administration of £1 billion in the second quarter of 2011."

http://www.rns-pdf.londonstockexchan...-2011-5-11.pdf

[stevesouth33]

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

I just spoke to RBS again to say that I spoke to the FSA and they told me they were not in discussion with RBS and the complaints handling procedures in reference to the policy statement and the open letter should have been put in place in December last year, and there were no 'finer detail' points outstanding. The lady I spoke to today was the same one I spoke to yesterday and she told me that she was surprised that the FSA said that as they have been told that they have got to wait for the discussions to be finalised before they start issuing final responses. Anyway she said she would phone me back after speaking to her manager, which she did about 2 minutes later asking me who I had spoken to at the FSA, and she is now going to ring them to find out whats going on. You have just got to laugh at that! Not certain on this point but although it was the same lady I spoke to yesterday and today (which she confirmed) I think she answered the phone with a different name today compared to yesterday.

[leclerc]

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

I just spoke to RBS again to say that I spoke to the FSA and they told me they were not in discussion with RBS and the complaints handling procedures in reference to the policy statement and the open letter should have been put in place in December last year, and there were no 'finer detail' points outstanding. The lady I spoke to today was the same one I spoke to yesterday and she told me that she was surprised that the FSA said that as they have been told that they have got to wait for the discussions to be finalised before they start issuing final responses. Anyway she said she would phone me back after speaking to her manager, which she did about 2 minutes later asking me who I had spoken to at the FSA, and she is now going to ring them to find out whats going on. You have just got to laugh at that! Not certain on this point but although it was the same lady I spoke to yesterday and today (which she confirmed) I think she answered the phone with a different name today compared to yesterday.

I'm awaiting a written response from RBS Group albeit I am pursuing them via other mediums as well.

[Angry Cat]

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

I'm awaiting a written response from RBS Group albeit I am pursuing them via other mediums as well.

many, are waiting to hear from RBS

[leclerc]

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

many, are waiting to hear from RBS

But I am as irritating on the forum as I am getting responses so whilst I don't have a PPI claim, I am quite happy to chase up responses with Financial institutions.

[stevesouth33]

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

Spoke to M&S Money and they confirmed they have started sending out final responses and are dealing with them in chronological order, the oldest ones have already gone out, and it will take two months for them to deal with the backlog. They said that they could not give me any view as to when I would get a response for mine, and I got the impression they have outsourced. The other thing that was interesting is that the ones on-hold from last year that were supposedly on hold as they would have been 'affected' by the result of the Judicial Review, would in most cases have been rejected by the 'old' rules, but potentially upheld based on the policy statement, so that sounds like good news I think, but I imagine that is only relevant to genuine as opposed to generic 'on hold' and would mostly be the pre-2005 complaints.

[k77mss]

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

hi guys got letter from rbs saying"unable to confirm precisely what information you were given at the time of your purchase as a goodwill gesture will refund all premiums you have paid towards the policy over past six years prior to date of receipt fo my complaint however as no payments have been made within this period no refund is due" loan started in 1997 and paid off 2002 is it worth phoning them back or do i just send it to fos is this normal reponse for loans before 6 years ago any advide would be very welcome thanxs

[Angry Cat]

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

hi guys got letter from rbs saying"unable to confirm precisely what information you were given at the time of your purchase as a goodwill gesture will refund all premiums you have paid towards the policy over past six years prior to date of receipt fo my complaint however as no payments have been made within this period no refund is due" loan started in 1997 and paid off 2002 is it worth phoning them back or do i just send it to fos is this normal reponse for loans before 6 years ago any advide would be very welcome thanxs

On what date did you realise that RBS had mis-sold the PPI to you?

[debtisbad]

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

hi guys got letter from rbs saying"unable to confirm precisely what information you were given at the time of your purchase as a goodwill gesture will refund all premiums you have paid towards the policy over past six years prior to date of receipt fo my complaint however as no payments have been made within this period no refund is due" loan started in 1997 and paid off 2002 is it worth phoning them back or do i just send it to fos is this normal reponse for loans before 6 years ago any advide would be very welcome thanxs

Worth a try-I got a full pay out on a credit started in 1999, plus interest, plus compensation.

[k77mss]

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

On what date did you realise that RBS had mis-sold the PPI to you?

sent my complaint away 14th feb 2011 didn't know i had paper work till i found it with other documents i have original documents.thanxs

[morpheus]

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

The FT seem to be running a story every day at the mo:

FTAdviser.com - Lloyds ring-fences £3.2bn for PPI claims

not sure why they keep repeating the same line, are they trying to put people off reclaiming?

"But this is really bad new for bank customers because they may end up paying the bill through incremental costs applied to their accounts."

[Angry Cat]

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

sent my complaint away 14th feb 2011 didn't know i had paper work till i found it with other documents i have original documents.thanxs

If that is the case, RBS are having a laugh, as usual!

If that is the manner in which they intend to compensate their customers, one is not impressed.

Get your act together RBS, time to start treating customers fairly;
and don't forget to repay your customers the interest as well as the PPI premiums.

[Emphasis]: Caution re: Goodwill Gestures.

[k77mss]

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

If that is the case, RBS are having a laugh, as usual!

If that is the manner in which they intend to compensate their customers, one is not impressed.

Get your act together RBS, time to start treating customers fairly;
and don't forget to repay your customers the interest as well as the PPI premiums.

[Emphasis]: Caution re: Goodwill Gestures.

i'm gutted with the letter i have been custumer with rbs for 25 years have all my bank statements from 1985 have all the evidence to support my claim what would you advice me to do now

[stevesouth33]

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

I think it is going to have to be the FOS route as I am certain that this will still fall into their remit, as they are looking at stuff for me from 2002. The standard they adopt usually gives 3 years to complain from the point at whihc you would reasnobly have realised you had been misold and I guess all that publicity probably led you to believe you had been:

The Ombudsman cannot consider a complaint if the complainant refers it to the Financial Ombudsman Service:
(1) more than six months after the date on which the respondent sent the complainant its final response; or

(2) more than: (a) six years after the event complained of; or (if later)
(b) three years from the date on which the complainant became aware (or ought reasonably to have become aware) that he had cause for complaint;

[ncf355]

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

Hi all. I have just registered with the forum after 6 months lurking in cyberspace getting great advice from you all. I feel i know you all personally now.
I put 5 claims in against RBS with a CMC ( wish i knew how easy it was before i did it) in August 2010. They were put on hold pending review like most were and are with the ombudsman.
Does anyone know how many claims of that vintage are sitting on their desks/
My CMC say they are waiting for a lot of details coming from the ombudsman over the next few weeks!
Do you think she is psychic? LOL

I have a non CMC RBS claim with FoS that has been there since Aug 2010

FoS adjudicator originally backed RBS, so I appealed and it went to the Ombudsman

Claim was given priority status in January (!!!!!) I was told 2 weeks ago (prior to BBA back down) that my claim would be assessed within a month

They have contacted me about twice in the last 2 months for further information to pass to the Ombudsman dealing with the case - each time this gave me false hope that things would be settled soon, but alas, 'twas not to be