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

ankerbankers

I'm with debt 55, if you all sit idle on this nothing is ever going to change. Social networking can work wonders and I agree we should all jump ship to Santander, yes they have their faults but you should ask yourself why they have done so well through the recession etc especially being a spanish bank, why, because they are a more conservative bank and they didn't and don,t take huge financial risks with the publics money.

HSBC for instance having been sitting on PPI complaints for the best part of six months, they new something was going to happen. Do you not believe that backhanders, a wink here and a wink there have nothing to do with this!!!!

I'm up for any partitions, demonstrations anything and if I can help in anyway please let me know and as for Mrs stressed stop moaning and do something constructive!

marshallka

ankerbankers wrote: »

I'm with debt 55, if you all sit idle on this nothing is ever going to change. Social networking can work wonders and I agree we should all jump ship to Santander, yes they have their faults but you should ask yourself why they have done so well through the recession etc especially being a spanish bank, why, because they are a more conservative bank and they didn't and don,t take huge financial risks with the publics money.

HSBC for instance having been sitting on PPI complaints for the best part of six months, they new something was going to happen. Do you not believe that backhanders, a wink here and a wink there have nothing to do with this!!!!

I'm up for any partitions, demonstrations anything and if I can help in anyway please let me know and as for Mrs stressed stop moaning and do something constructive!

What do you suggest then that is constructive...

marshallka

Which? chief executive, Peter Vicary-Smith, said: “The activation of this new power is good news for consumers. From endowment mortgages to Payment Protection Insurance, the financial services industry has consistently dragged its feet when it comes to paying proper redress.”

He added: “It is important that the FSA makes full use of this power to require firms to review their past sales and pay proper redress."

http://www.mortgagesolutions-online.com/mortgage-solutions/news/1741897/fsa-handed-extra-enforcement-powers

steveh31

Just had bad news from PPI claim company they say my case has been put on hold because its pre 2005 and because it's RBS - may take months before I hear anything and the Ombudsman has a 6 month backlog.

Its definitely bank charges all over again.

debt55

steveh31 wrote: »

Just had bad news from PPI claim company they say my case has been put on hold because its pre 2005 and because it's RBS - may take months before I hear anything and the Ombudsman has a 6 month backlog.

Its definitely bank charges all over again.

so the rules are pre 2005 no go, after 2005 ok?

steveh31

I cant do links so i'm told so you will have to google ppi news and scroll down to financial times article called Lenders put ppi complaints on ice. If anyone finds it please add the link.

debt55

steveh31 wrote: »

I cant do links so i'm told so you will have to google ppi news and scroll down to financial times article

thought we had to pay to read times online?

steveh31

If you go via google search and click on the article rather than go into newspaper it appears.

debt55

steveh31 wrote: »

If you go via google search and click on the article rather than go into newspaper it appears.

thanks mate that worked a treat :money:

marshallka

debt55 wrote: »

so the rules are pre 2005 no go, after 2005 ok?

Pre 2005 the GISC rules apply to some firms... after 2005 the FSA rules apply.

Someone needs to find the old Banking Ombudsman Rules?