MSE News: Banks put PPI claims on hold in defiance of regulator

maxdp

Money Mail this morning reported about banks going to court to fight PPI claims etc etc.... Anyway at the bottom of the article it says

To complain about your state backed bank taking part in this legal action call RBS on 0800 0150319 and :Lloyds 01733 387 599.

marshallka

The FSA site is still down??


Back up now!!

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/155.shtml

maxdp

Marshallka. I hope an announcement is made today about exactly what is on hold and what is not it is still not clear.

maxdp

Cannot get onto site

Jalapee

My refund was in my bank this morning :D

maxdp

Jalapee wrote: »

My refund was in my bank this morning :D

Oh well done and good for you.

NIGELK_3

Sorry to cause such a hornets nest about claim companies! I was only trying to point out that if this particular claim company had no idea the position regarding Lloyds, what chance do the rest of us have! I only used this company because I did not have the time to make the claims myself and to be honest - did not realise there were templates available. (which I did use for bank charges). Anyway Lloyds are paying me tomorrow (according to my bank website) and this claim company will then bill me 25%. Yes, it is a lot, but personally I am happy with the amount being reclaimed.
On a separate note, The Daily Mail today states "we have learnt that all PPI claims will shortly be put on hold". I will be emailing them to ask where they have got this information, the banks? the FSA? the High Court? We need to know!

dunstonh

When the PIA was abolished, there were fears it would try and take on a big gun before it went. IIRC, I think then it was Lloyds who got a fine of about £1 million for not processing a small number of PEPs within the deadline. That was seen as overly harsh at the time for the error involved. Especially as no-one was financially worse off as Lloyds covered the tax.

There have been rumours for about a year that the FSA would do the same and aim to take on a big player before it goes.

mrs_skint

Well done Jalapee!!!:T:beer::T

skv123

From the BBA site:

Payment Protection Insurance - complaints handling
13/10/10

"The BBA's members will continue to handle all PPI-related complaints in accordance with FSA rules. Where the the assessment of the complaint would not be affected by the judicial review, these complaints will be handled in the normal way. If your complaint will be impacted by the judicial review, and cannot be resolved at this point, then your bank will write to inform you.
"Customers should be assured that all complaints will be reviewed - even those delayed by this judicial review process. There is no deadline for receipt of complaints. If customers have a problem regarding PPI they should contact their bank and, if necessary, complain in the normal way."


...does this mean Lloyds have backed down?