Someone advise me on my new claim idea please?

Widelats

Correct me if i am wrong, i suggest we claim that the banks have not been great in their complaints department, i understand that 2 of these big banks are to have hefty fines slapped on them by the FSA, it is my opinion that if the FSA can fine them then so should we and we should start a campaign up for compensation -

What does people think??

Also, does someone know which of these banks will be fined? And how to get the ball rolling on this thing? :cool:

magpiecottage

You're wrong - only the FSA or courts can fine banks.

The FOS, or courts can award redress for specific instances of loss by consumers that result (on the balance of probabilities) from a failure on the part of a bank (or other financial institution) to properly discharge its regulatory obligations.

But neither FOS nor the courts can fine in respect of a claim for redress from a consumer.

Consider yourself corrected!

ILW

Widelats wrote: »

Correct me if i am wrong, i suggest we claim that the banks have not been great in their complaints department, i understand that 2 of these big banks are to have hefty fines slapped on them by the FSA, it is my opinion that if the FSA can fine them then so should we and we should start a campaign up for compensation -

What does people think??

Also, does someone know which of these banks will be fined? And how to get the ball rolling on this thing? :cool:

I think your time may be better spent looking for a job rather than dreaming up daft schemes like this.

Widelats

magpiecottage wrote: »

You're wrong - only the FSA or courts can fine banks.

The FOS, or courts can award redress for specific instances of loss by consumers that result (on the balance of probabilities) from a failure on the part of a bank (or other financial institution) to properly discharge its regulatory obligations.

But neither FOS nor the courts can fine in respect of a claim for redress from a consumer.

Consider yourself corrected!

Thanks for the advice, will end the plan then.

sussexg_2

agree with ILW, you are just displaying the same greed that some, not all, bankers display. the world would be a better place if people just got on with their lives, vote with your feet and change banks (or any supplier you're not happy with). that's not to say if you buy something faulty you should not expect to get your money back, i will always do that, just get on with your life on this one though, bank money, like government money, is just what everybody else puts in, so it would be other people paying for your greed

Widelats

sussexg wrote: »

agree with ILW, you are just displaying the same greed that some, not all, bankers display. the world would be a better place if people just got on with their lives, vote with your feet and change banks (or any supplier you're not happy with). that's not to say if you buy something faulty you should not expect to get your money back, i will always do that, just get on with your life on this one though, bank money, like government money, is just what everybody else puts in, so it would be other people paying for your greed

Its not greedy to want your money back, if you think this why are you on a charges reclaiming forum on a money saving website?

You don't know my circumstances and you probably believe i would try claim thousands of pounds, probably believe i was treated fairly too but thats your opinion...

bengal-stripe

Widelats wrote: »

.......it is my opinion that if the FSA can fine them then so should we and we should start a campaign up for compensation -

Widelats wrote: »

Its not greedy to want your money back,.....

But you want more than your money back. - You want the right to "fine" the bank and get compensation!

dunstonh

Its not greedy to want your money back, if you think this why are you on a charges reclaiming forum on a money saving website?

It may not be in your case and we dont know anything about you so cant say. However, its clear from the number of claims companies that have cropped up and the lies they tell and the number of people that agree to use them that consumer greed is a driver for many people.

natweststaffmember

dunstonh wrote: »

It may not be in your case and we dont know anything about you so cant say. However, its clear from the number of claims companies that have cropped up and the lies they tell and the number of people that agree to use them that consumer greed is a driver for many people.

On the latter point, I would say its not necessarily greed but laziness, a good sales patter from the CMC, speed they allege is involved, desperation, the fact they are up against a multi billion pound organisation, the fact they do not believe that they can do it themselves. Greed maybe there but it is not the main issue since if they didn't have bank charges then they would not agree to allow the CMC to take their money.

Widelats

bengal-stripe wrote: »

But you want more than your money back. - You want the right to "fine" the bank and get compensation!

Not true, the fines will go on the banks in our name, the people who have had the crap from the banks, so who gets the fine money? Wherever this money goes, that we, the public have been fobbed off from the bank about for years, it is not going to us. So where will it go? Who will get paid in my name?

If they are being fined it should go to us, the "victims", not the FSA fund pot.

natweststaffmember

Widelats wrote: »

Not true, the fines will go on the banks in our name, the people who have had the crap from the banks, so who gets the fine money? Wherever this money goes, that we, the public have been fobbed off from the bank about for years, it is not going to us. So where will it go? Who will get paid in my name?

If they are being fined it should go to us, the "victims", not the FSA fund pot.

Just so we are clear, I don't agree with you with regards to fines. It is about improvement and if the FSA ask for certain cases to be reviewed based on redress ie compensation then they have the right to award individual complainants their money. It is not for dispersal amongst people who have complained.
Furthermore, the fine would be because they did not follow previous warnings made to them with regards to perhaps a single or multiple issues.