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

singlep

You are correct. FOS will make its decision but Lloyds may not pay out if they consider FOS's ruling is covered by the judicial review.

marshallka

singlep wrote: »

The act of parliament, the Regulated Activities Order, 2000, for financial services has very strict behavioural rules for the owners of firms who hold more than 10 or 20% of shares. The FSA refers to them as Controllers. In the case of Lloyds and RBS the Government is the Controller and should be asked to state why it supports the PPI complaints freeze. No bank should be able to request a judicial review without the support of their largest shareholder No doubt the Gov will claim some obscure exemption but we should write to our MPs and demand an explanation. (This was not possible for bank charges as it is not a regulated product). Will the FSA ask the Gov/Controller to explain? Perhaps Martin will produce a template letter for MPs?

Singlep, I was only looking back on your posts this morning and thinking about you... this is so blummin weird.

debt55

great post singlep!

marshallka

Singlep, I have just pm'd Martin with what you suggested. Just hope he gets back.

patricia50

Just got off phone to lloyds about ppi claim and am absolutely furious. I put in a claim for two loans at the same time. I recieved notification about one that they had found in my favour and I signed the form and returned it,all well and good. Hadnt heard back about the other one so rang to inquire. I was told it had been "overlooked" and they would put claim in now. Of course now its very probably going to be put on hold. One person on phone told me it would be put on hold, spoke to another who said it would not be on hold but didnt now know what the time frame would be.Can I do anything about this as they were both claimed for in the same letter under the same reasons. HELP!

di3004

marshallka wrote: »

Singlep, I was only looking back on your posts this morning and thinking about you... this is so blummin weird.

LOL, great to see Singlep back isn't it? :T

di3004

marshallka wrote: »

Singlep, I have just pm'd Martin with what you suggested. Just hope he gets back.

Excellent idea, hope you get some feedback soon Marshallka and great advice Singlep.

di3004

patricia50 wrote: »

Just got off phone to lloyds about ppi claim and am absolutely furious. I put in a claim for two loans at the same time. I recieved notification about one that they had found in my favour and I signed the form and returned it,all well and good. Hadnt heard back about the other one so rang to inquire. I was told it had been "overlooked" and they would put claim in now. Of course now its very probably going to be put on hold. One person on phone told me it would be put on hold, spoke to another who said it would not be on hold but didnt now know what the time frame would be.Can I do anything about this as they were both claimed for in the same letter under the same reasons. HELP!

Hiya

I assumed they would still continue with the settlements offerered/accepted and signed!

You could maybe give the FSA a ring, see what they say.

Hope you receive your payout soon, good luck.

debtisme

Anyone have any views on what, if any influence the current PPI situation may have on a currently stayed court case, one of the components of the case is mis sold PPI. Bank said I could claim on PPI as unable to pay back loan (self employed - lack of business reduced income) but when I claimed, was refused as PPi did not cover me! Thanks

kpwll

According to the gent I spoke to at the FOS, they don't know what is happening to the claims that have been agreed/upheld and are waiting for their legal dept to get back to them.