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

[Gareth]

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

I will agree that the scale the industry reached in 2009/10 will never be achieved again and that justice doesn't seem to exist in this industry, just look at the two massive judgements that went against it, bank charges and s78 ruling by Waksman.

My question is this, should the BBA get the review, we expect the FSA and FOS to appeal... Should the review go ahead and go in favour of the BBA what is the worst that could happen?

Am I correct in saying a waiver such as that implemented during the bank charge "fiasco" could be imposed once a review has been granted? - Is this what the banks/lenders are (excuse the pun) banking on?

Here is food for thought, surely Mr Justice Ouseley must see that what the BBA is trying to do is not being agreed by all, ie Santander (and a few others it appears from reading on here). Surely that must have some impact on things if the judgement was not already written prior to hearing.

NLP states its time to move on and working in the industry I am always looking for the next claim, not just against bank/lenders/insurers, but why does it appear all new avenues/claims come back aginst these company's? is it? -

- because its money, and clients are passionate to get this back

- because these organisations are so corrupt and it is easier to find the next claim against them

- because there is not many other claims out there that will generate the revenue the cmc's require

I won't be throwing in the towel just yet as I think there is still money to be retrieved from these organisations. I have always said you have to be working on the next claim.

[cappo]

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

do you all think on here that the j.r will change the amount of payments made in compensation,will this make it harder for cmc and individuals to claim compensation, i can,t see as to it making it any easier to claim the banks want to keep there money for themselves not pay it back in illegal misselling claims look at the proposed barclay bank chairmans bonus,crooks

[Gareth]

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

9 million bonus... having worked for them I guarentee that the average staff members see's nothing like that!

I wonder what the salary is!

People have passed comments on letters from lenders saying that the redress amount cant be calculated until the Judicial Review has been finalised, I for one do NOT understand this as I thought the redress issue and calculations had already been resolved and was not being questioned!

[leclerc]

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

I will agree that the scale the industry reached in 2009/10 will never be achieved again and that justice doesn't seem to exist in this industry, just look at the two massive judgements that went against it, bank charges and s78 ruling by Waksman.

My question is this, should the BBA get the review, we expect the FSA and FOS to appeal... Should the review go ahead and go in favour of the BBA what is the worst that could happen?

Am I correct in saying a waiver such as that implemented during the bank charge "fiasco" could be imposed once a review has been granted? - Is this what the banks/lenders are (excuse the pun) banking on?
I doubt it because there is one company who is not going with the Industry. Santander are processing claims fully with the new rules and with one company not being within the JR it will certainly be interesting what their stance would be if the JR went with the BBA.
Here is food for thought, surely Mr Justice Ouseley must see that what the BBA is trying to do is not being agreed by all, ie Santander (and a few others it appears from reading on here). Surely that must have some impact on things if the judgement was not already written prior to hearing.
Gareth, I personal think it is irrelevant what decision is made by Justice Ousely unless it goes with the BBA. We'll see if the FSA have the cojones to appeal(which have previously been missing ).
NLP states its time to move on and working in the industry I am always looking for the next claim, not just against bank/lenders/insurers, but why does it appear all new avenues/claims come back agianst these company's? is it? -

- because its money, and clients are passionate to get this back

- because these organisations are so corrupt and it is easier to find the next claim against them

- because there is not many other claims out there that will generate the revenue the cmc's require

I won't be throwing in the towel just yet as I think there is still money to be retrieved from these organisations. I have always said you have to be working on the next claim.

They have yet to challenge Credit card fees in court(please correct me if they have). Furthermore, there are challenges to the CCA still ongoing in spite of previous judgement appearing to favour the financial institution. I think the issue is that some judges merely see some challenges as escaping for a duty to repay debt(excluding PPI cases). Until they get around that thorn to actually interpret the law then many case may end this way.

[leclerc]

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

9 million bonus... having worked for them I guarentee that the average staff members see's nothing like that!

I wonder what the salary is!

People have passed comments on letters from lenders saying that the redress amount cant be calculated until the Judicial Review has been finalised, I for one do NOT understand this as I thought the redress issue and calculations had already been resolved and was not being questioned!

Gareth, my personal opinion is that we all seem to defend branch level bonuses simply because they are not that big. However, is it the big bosses misselling the products? No, it is staff at branch level cutting corners to secure their bonus. Branch sellers could earn 100% of their salary in bonuses over the year which was all cash.

[cappo]

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

my cmc seems to be leaning towards the court to get the deadlock broken on my missold policies, hsbc have put my loan/credit card ppi on hold pending this j.r, capital one are rejecting my misselling claim looks like that might be heading the same way but i think that one needs to go to court as it looks like the aforementioned has altered my tick boxes too, i,m interested in seeing how it,ll come out but yes going to court over credit card fees that wouid be interesting

[Gareth]

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

Leclerc I would have to disagree that the mis-selling is always a corner cutting excercise of the branch staff, I would say sometimes it is, but other times it goes way above that. You would have to understand the hierarchy of where the sales person sits within the organisation and where the orders/targets/drives/techniques are coming from, ie regional directors.

I read earlier within the thread that the Court has no expected date to release news on the outcome of hearing on the Judicial Review (I am unsure of the date) has anybody heard anything since?

[leclerc]

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

Leclerc I would have to disagree that the mis-selling is always a corner cutting excercise of the branch staff, I would say sometimes it is, but other times it goes way above that. You would have to understand the hierarchy of where the sales person sits within the organisation and where the orders/targets/drives/techniques are coming from, ie regional directors.
And when those tips they are given do not work then they cut corners to make sure they hit their targets. I know how the organisation works and I know how the filtering process goes down the line from Executive Office to Director of Retail manager, to Regional Manager to area manager to branch manager to sales staff on the floor. The pressure put on the various chains leads to frontline staff cutting costs. On PPI it was "a loan fully covered". With packaged accounts it was about "upgrading for a better card", for credit cards on student accounts it was "part of the package, or an emergency card" for International students it was "the only account we open for overseas students". Or the dastardly, reviews which are common place ie "the review on your account is due shortly, when can I book you in?"
I read earlier within the thread that the Court has no expected date to release news on the outcome of hearing on the Judicial Review (I am unsure of the date) has anybody heard anything since?

nothing on the usual areas of knowledge as to when the judgement is being given but expected end of next week by most people's assessments(I'm not saying it will be public by then but I guess watch this space)

[Gareth]

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

The practices you refer to were the end result, but who perfected those, who tought you those, how did they become the industry "norm" across all/most branches/call centres? - because the people who were poached from above branch level ie regional managers/directors, told their interviewers they could increase revenue and that they did at any cost to the client!

[leclerc]

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

The practices you refer to were the end result, but who perfected those, who tought you those, how did they become the industry "norm" across all/most branches/call centres? - because the people who were poached from above branch level ie regional managers/directors, told their interviewers they could increase revenue and that they did at any cost to the client!

Not everything was the "norm", it was usually tried out in a "live" environment and the so called "best practices" from the branches were then fed into all the branches through their daily performance conference calls. Area managers might throw in some incentives but ultimately branch staff going upwards was how it became the norm

[pompeyfaith]

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

talk about a poorly written article this must take top spot lol

http://tornadomagnet.com/fsa-challen...sold-ppi-check

[leclerc]

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

talk about a poorly written article this must take top spot lol

http://tornadomagnet.com/fsa-challen...sold-ppi-check

Ok, competition time(for fun)

Rewrite the article how it should have been written and correctly worded

"FSA Challenges the Banking companies for Mis-sold PPI Check




The British Bankers’ Association (BBA) is challenging the Financial Services Authority (FSA) over new mis-sold ppi (payment protection insurance) regulations at the High Court in London. The financial corporations are expected to continue to process mis-sold ppi complaints in the interest of the consumers while procedure is on going. If people are not happy with how their mis-sold ppi complaint was handled they can refer it the Financial Ombudsman Service (FOS).
Within the last five years, there have been over a million mis-sold ppi problems made to the financial firms. In the past two years (2009 and 2010) alone, customers referred arount 50,000 complaints to the Ombudsman’s office that were then upheld in nine out of ten cases in favour of the complainants.
Since 2005, when the FSA took over PPI regulation, it has taken enforcement action against more than 20 firms for mis-selling ppi policies. The FSA has carried out three thematic reviews, issued warnings, halted the selling of single premium ppi policies with unsecured personal loans and visited over 200 firms that were selling ppi policies to further improve the marketplace. The FSA strongly believed that the package of new mis-sold ppi complaint handling measures outlined in policy statement PS10/12 is a sensible and fair solution for consumers and the industry alike. The FSA will rigorously contest the BBA’s judicial review of the new ppi related complaint handling procedures for the ppi market.
High street banks like Lloyds TSB are not processing complaints against whilst there’s a judicial review ongoing. One problem that this bank is having is ppi claims against them for the mis-selling of this product can still continue. Claiming companies are controlling to get valid complaints and claims against Lloyds banking group that’s costing the bank the charges of Financial Ombudsman Service costs for each and every claim that they create. A professional claiming company management states that all Lloyds set to get is an 8 week delay and that those complaints that hit their door step within 8 weeks of going for the judicial review can be influenced.
PPI refunds will have an important effect on Lloyds Group which ironically is owned by us, the taxpayers of the Great Britain, after we bailed them out from their financial problems. Lloyds’ alleged misselling of PPI is outrageous.
Last Tuesday, January 25th, the judicial review brought by the British Bankers’ Association against the Financial Services Authority began in the High Court. The British Bankers’ Association is seeking to stop the FSA applying new regulations on mis-sold ppi that could force lenders to analyze millions of their sales. "

The bit in bold I couldn't change too much and boredom started to catch up with me.....

[Amethyst]

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

lol, terrible, I think its advert tells the whole story tbh

[pompeyfaith]

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

Indeed Amethyst a very poor piece of journalism even poorer is that no seems to have checked it before hosting.

Which are the basic principals of typed english

[Angry Cat]

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

Media hype...

Wonder, if the Sunday Times (Business Section) will throw any light?