PPI Reclaiming Discussion part 4

marshallka

di3004 wrote: »

Just had a nose on the FSCS website here:

http://www.fscs.org.uk/consumer/latest_news/2009/jul/Response_to_FSA_policy_statement/

FSA publishes new rules for faster payout

The Financial Services Authority today published its Policy Statement on banking and compensation reform. The FSCS welcomes the changes and believes they will contribute to improving consumer confidence.
Among the changes contained in Policy Statement 09/11 – Banking and Compensation Reform are:

• a requirement on deposit takers to maintain a “single customer view” to give the FSCS the information it needs to achieve a faster payout in the event of a failure;
• simplifying the FSCS eligibility requirements for deposit claims;
• moving to gross payout to depositors; and
• new disclosure requirements on deposit takers to provide information about the FSCS to their customers.

FSCS Chief Executive, Loretta Minghella, said: “We welcome the FSA Policy Statement, which marks the next phase of improvements to the FSCS that will benefit consumers. Both we and the industry have much to do to implement FSA’s new rules. Once we have done so, it will be much easier for the FSCS to respond quickly should a deposit taker fail. That will be good news for consumers and will help to promote consumer confidence.”

Will this be faster in PPI reclaiming or is it just in deposits etc?????

This statement is interesting

• If a firm operates under a number of trading names, it must tell its customers which of the different trading names are covered by a particular authorisation.

di3004

marshallka wrote: »

Will this be faster in PPI reclaiming or is it just in deposits etc?????

This statement is interesting

• If a firm operates under a number of trading names, it must tell its customers which of the different trading names are covered by a particular authorisation.

Not sure on that bit, but yes I thought that part was interesting as well.;)

marshallka

Probably shoud not post it on here but Click Life are now doing automated recorded calls. I had one today.

di3004

I found this useful as well below.

I was wondering if you want to put this one in your Sticky thread Marshallka, of the PPI resources, it's in regards of how they redress within the FSCS and the FOS, it may be useful.;) See Below Joint guide what we can do to help.

http://www.financial-ombudsman.org.uk/faq/answers/complaints_a10.html

frequently-asked questions

This section answers a number of frequently-asked questions (FAQs) about:
complaining to the ombudsman

if a business goes bust

what happens if a business goes bust while the Financial Ombudsman Service is looking at my complaint about it?

If this happens, the Financial Ombudsman Service will suspend its investigation into your complaint. We are unable to help where a business cannot meet financial claims made against it.
In the case of an FSA-regulated firm, we will write to you, explaining that we have referred your case to the Financial Services Compensation Scheme (FSCS). This separate organisation is the "final safety net" for customers of failed FSA-regulated firms. The FSCS will then contact you to explain how it may be able to help. The FSCS has its own separate set of rules and criteria for handling customers' claims against failed firms.
Jointly with the FSCS and the FSA we have produced a guide that explains the separate roles of our three organisations – and how and when we liaise and work together:
joint guide: what we do – how we can help

di3004

marshallka wrote: »

Probably shoud not post it on here but Click Life are now doing automated recorded calls. I had one today.

OMG we had one last week from them as well........:eek: automated, my hubby went to pick up the phone, me missed the call, but it was left on the answer machine as well, he deleted it now.

marshallka

di3004 wrote: »

I found this useful as well below.

I was wondering if you want to put this one in your Sticky thread Marshallka, of the PPI resources, it's in regards of how they redress within the FSCS and the FOS, it may be useful.;) See Below Joint guide what we can do to help.

http://www.financial-ombudsman.org.uk/faq/answers/complaints_a10.html

frequently-asked questions

This section answers a number of frequently-asked questions (FAQs) about:
complaining to the ombudsman

if a business goes bust

what happens if a business goes bust while the Financial Ombudsman Service is looking at my complaint about it?

If this happens, the Financial Ombudsman Service will suspend its investigation into your complaint. We are unable to help where a business cannot meet financial claims made against it.
In the case of an FSA-regulated firm, we will write to you, explaining that we have referred your case to the Financial Services Compensation Scheme (FSCS). This separate organisation is the "final safety net" for customers of failed FSA-regulated firms. The FSCS will then contact you to explain how it may be able to help. The FSCS has its own separate set of rules and criteria for handling customers' claims against failed firms.
Jointly with the FSCS and the FSA we have produced a guide that explains the separate roles of our three organisations – and how and when we liaise and work together:
joint guide: what we do – how we can help

Posted the link.

di3004

marshallka wrote: »

Posted the link.

Brilliant, better of in your Sticky so we don't lose it :T;)

marshallka

Di martin has done a piece here to do with faster payouts but it does seem to be more in line with "savings" being protected
Savings safety clarity rules tightened



http://www.moneysavingexpert.com/news/banking/2009/07/banks-forced-to-make-savings-safety

di3004

marshallka wrote: »

Di martin has done a piece here to do with faster payouts but it does seem to be more in line with "savings" being protected
Savings safety clarity rules tightened



http://www.moneysavingexpert.com/news/banking/2009/07/banks-forced-to-make-savings-safety

Things are starting to look up then, let's hope this will mean the same for cases such as PPI etc.;)

di3004

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