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

-SDW-

lol alpine star.....BUSTED !!!....:beer:

tiggrae

debt55 wrote: »

err, think you need to do some reading.

and please, try not to take this thread off track, maybe start another thread to discuss pictures.

errr, think you need to brush up on your manners !

amersall

tiggrae wrote: »

errr, think you need to brush up on your manners !

That wont happen you cant teach an old dog new tricks :rotfl:

tiggrae

amersall wrote: »

That wont happen you cant teach an old dog new tricks :rotfl:

:T :rotfl:

steveh31

The FSA is keeping an eye on modified versions of the controversial payment protection insurance, the regulator has warned.
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Ken Hogg, director of the insurance sector department of the FSA, told a conference of Marketforce and the Institute of Economic Affairs that the City watchdog was keen to "intervene early" on any similar products.
It comes amid a judicial review by the banking sector on the FSA's clampdown on the controversial product.
Mr Hogg said: "Although there is a judicial review of our PPI complaints handling measures, we strongly believe the package of measures we have outlined is a sensible and fair solution for consumers and the industry alike. We are vigorously contesting the judicial review.
"We will be monitoring the implementation of our guidance closely to ensure real change is delivered.
"We understand that, depending where you are in the value chain, you may feel the responsibility for the PPI issues lies elsewhere. However the onus is on the entire industry to ensure it treats all customers fairly.
"It is worth remembering our 2007 policy statement that gives guidance on the responsibilities of providers and distributors for the fair treatment of customers. This has not lost any of its currency.
"We are also aware of modified versions of PPI or alternative products being developed and offered to consumers that may well grow in volume. Some of these are insurance products, such as a short-term income protection product that is not linked directly to a specific loan or credit product, and some are within the product features of the credit or loan advanced, often known as a debt waiver.
"This is an area where we are keen to intervene early and engage with firms. We have started our analysis of the conduct risks they may present. You can expect further communications from us as we develop our thinking in this area."
He also called on insurance firms to look at the benefits of Solvency II, such as better risk management and transparency and to monitor European directives on commission disclosure and direct sales.
Peter Chadborn, director of Essex-based IFA CBK Colchester, said: "Hopefully the FSA has learned form the last PPI fiasco. Unfortunately the outcome from the investigation was what many of us knew. It is not that the products are bad, it is the way they are marketed.
"The same will apply to any newer or updated version. Companies need to be clear about the product and its limitation. It was often called income protection but did nothing of the sort.
"If there is some kind of hybrid product between the two it is an improvement but it is the way it is promoted that will require scrutiny."

hopefulshell07

I, after loads of phone calls and being shunted around for 45 minutes last night, finally found out that my refund had been worked out and a letter was in the post (which I got today) telling me how much I was getting back, the nice man on the phone told me exactly to the penny - bless him

I am getting back...............wait for it.......................................


£11,330.57

I was almost in tears as I had no idea it would that large an amount!!! Most of it is to be paid in this weekend and the rest after they have reworked my existing loan.....I am so happy and would like to say a big THANK YOU to you all for your support on here.
:kisses:

debt55

amersall wrote: »

That wont happen you cant teach an old dog new tricks :rotfl:

but you can teach him how to count.. without an abacus :rotfl::rotfl::rotfl:

42% ROFL

debt55

Alpine_Star wrote: »

He didn't. As he well knows he saw it on Beagles where the news was posted over 2 hours before he posted it here.

Wrong, but nice try.

On a piece of string..... an email from a LB old skooler

still unsure why all the helpful people on here did not post it up if they read it elsewhere?

very strange that one... are people on this forum.. not what they pretend to be?

i warned people long ago.. be careful of the wolves in sheeps clothing on here

they aint hard to spot... they get angry :D

debt55

tiggrae wrote: »

errr, think you need to brush up on your manners !

stick to the pictures

imvhaho :A

debt55

hopefulshell07 wrote: »

I, after loads of phone calls and being shunted around for 45 minutes last night, finally found out that my refund had been worked out and a letter was in the post (which I got today) telling me how much I was getting back, the nice man on the phone told me exactly to the penny - bless him

I am getting back...............wait for it.......................................


£11,330.57

I was almost in tears as I had no idea it would that large an amount!!! Most of it is to be paid in this weekend and the rest after they have reworked my existing loan.....I am so happy and would like to say a big THANK YOU to you all for your support on here.
:kisses:

MERRY XMAS :j:j:j