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

debt55

marshallka wrote: »

Debt55, what did you actually ask him to do? I pm'd about what singlep had said about got a reply straight off. I think these things take time and perhaps something is going on in the background. I doubt he has completely forgotton about it. Perhaps he has no actual solid answers yet. Have you emailed the FSA?

Yes I have emailed the FSA, the BBA and spoken to most of the banks.

I got the same response from both the BBA and FSA that has been posted on here and other forums.

Simply... all claims unaffected by the JR shall be, and should be reviewd by the banks.

I think they are, my personal experience is that they are dealing with the post jan 15 2005 icob jobbies.

But i still feel it neccesary to create a real storm of public disgust at the cheeky nature of the banks with this JR and supposed holds.

If we keep quiet, then they surely feel they may be getting away with it?

Mr Lewis, has in the past shown much enthusiasm for bringing such disgusting behaviour from the banks to the wider publics view, seen him twice on telly since the BBA action, and nothing...

lets hope he is planning a right old assault on them!

debt55

marshallka wrote: »

Well you can be polite debt55 sometimes:). We have seen it on here!!!

yes i can, its just a shame not everybody can follow such a fine upstanding citizen

marshallka

debt55 wrote: »

yes i can, its just a shame not everybody can follow such a fine upstanding citizen

Yes, such a pillar of the community:D

debt55

marshallka wrote: »

Yes, such a pillar of the community:D

Thank you, i'm just off round to the salvation army HQ to do my bit for society. :A

steveh31

Ombudsman prepares for PPI spike

By Josephine Cumbo
Published: November 4 2010 11:49 | Last updated: November 4 2010 11:49

The Financial Ombudsman Service (FOS) is gearing up for a rise in complaints about payment protection insurance (PPI) after banks put the processing of thousands of disputes on hold.
The ombudsman, which deals with disputes that cannot be resolved between financial business and customers, is planning to reallocate staff ahead of an expected spike in its PPI caseload, already at record levels.
The preparations come after the country’s biggest banks told customers that complaints affected by a legal challenge to new PPI regulatory measures would have to be put on hold.
The British Bankers’ Association (BBA), which launched the legal action last month, said the banks would finish handling the affected complaints once the outcome of a High Court action was known, likely next year.
However, consumers whose complaints are on ice are being advised that they can still take their cases to the Ombudsman - in spite of the banks’ legal action.
“We are preparing for an increase in PPI complaints,” said Emma Parker, a spokesperson for the ombudsman.
“We have already seen a slight increase in calls from consumers following the judicial review. We are making sure we have got resources in place to deal with any rise in cases.”
The ombudsman, a free service for consumers, is not able to consider a case unless a firm has been given eight weeks to deal with or issue a final response. It has the power to make an adjudication even if the business involved in the dispute does not make representations.
Claims management companies suggested this week that the number of PPI claims held up during the legal action could be far greater than thought.
“The banks are saying that only cases affected by the judicial review cannot be processed at this time but this is not what claims managers are seeing,” said Anthony Sultan of the Claims Standards Council, the trade association for claims management companies.
“I would say 95 per cent of claims being processed through members have been delayed.”
Barclays, Lloyds Banking Group, MBNA, HSBC and HFC are the lenders putting claims on hold.

petecorfu

marshallka wrote: »

Debt55, what did you actually ask him to do? I pm'd about what singlep had said about got a reply straight off. I think these things take time and perhaps something is going on in the background. I doubt he has completely forgotton about it. Perhaps he has no actual solid answers yet. Have you emailed the FSA?

Maybe he knows the banks dont stand a chance and would rather keep quite as why he thinks that so the banks do not change the attack with his new revelations!!! lol thats positive thinking right there!!!!

marshallka

petecorfu wrote: »

Maybe he knows the banks dont stand a chance and would rather keep quite as why he thinks that so the banks do not change the attack with his new revelations!!! lol thats positive thinking right there!!!!

And maybe you are correct there petecorfu. Nothing wrong in positive thinking:).

petecorfu

ok folks! CO-OP 0161 837 8757! THEY TOO HAVE JUST CONFIRMED ALL, THATS ALL NEW CASES ARE ON HOLD! not just pre icob!
They agreed with me with what the bba have said to do and that it is an illegal hold that they are carrying out, but that was the decree by up high in management! she also agreed how bad it was not abiding by the BBA-FOS AND FSA RULES!
what the f do they think they are doing???
please some one call them now and also tell them they are acting illegally! and ask the question! is every thing on hold??? IM SITTING HERE DISGUSTED !

Cardinals

HFC have a recorded message saying all claims are on hold: 0845 602 3793 option 1.

hopefulshell07

Phoned LTSB again today and got through to someone who finally said something other than 'everything is on hold'!! He said that because I had been speaking to the FOS there was some confusion about my claim. So he was going to email the relevant department right now to ask them to work our my refund asap as they had my acceptance back in August and hadn't processed it. Hopefully should have a figure in a week or two he said. If I do I will be so pleased as my current loan will also go down by about £120 per month - yippeeeee