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

NIGELK_3

I don't see why the FSA would agree to put all complaints on "hold" just weeks after stating banks should continue processing complaints as normal?
I would have thought it just as likely that the FSA statement would be stating that the banks have now agreed to continue processing complaints (as least the post 2005 complaints)?

sunandsailcat

tiggrae wrote: »

If the fsa are going to make an announcement tomorrow that's all hope it isn't to grant the banks a formal waiver to 'hold' all PPI claims pending the outcome of the Judicial Review - that really would be another kick in the teeth for consumers !!

Quite, but if that does happen at least those who've currently got claims in who are being told that their claims are "On hold pending the review" can claim that the Banks are still acting erroneously as they are seeking to apply (possible) FSA ruling retroactively!

They can't complain that FSA policy statement 10/12 is retroactive and then apply statements retroactively when it suits them!

tiggrae

NIGELK wrote: »

I don't see why the FSA would agree to put all complaints on "hold" just weeks after stating banks should continue processing complaints as normal?
I would have thought it just as likely that the FSA statement would be stating that the banks have now agreed to continue processing complaints (as least the post 2005 complaints)?

Let's hope so, the only reason I can think that they may grant a waiver is due to pressure from the FOS, after all PS 10/12 was issued in an attempt to take the burden off the FOS - but they must have seen their work load go through the roof since banks have been putting claims 'on hold' !!

sunandsailcat

tiggrae wrote: »

If the fsa are going to make an announcement tomorrow that's all hope it isn't to grant the banks a formal waiver to 'hold' all PPI claims pending the outcome of the Judicial Review - that really would be another kick in the teeth for consumers !!

Has anyone heard whether there is going to be an FSA announcement tomorrow or not??

tiggrae

sunandsailcat wrote: »

Has anyone heard whether there is going to be an FSA announcement tomorrow or not??

to be honest I've seen nothing !

Alpine_Star

sunandsailcat wrote: »

Has anyone heard whether there is going to be an FSA announcement tomorrow or not??

"We have no PPI related announcements scheduled for Friday."

http://www.legalbeagles.info/forums/showpost.php?p=184915&postcount=608

http://www.legalbeagles.info/forums/showpost.php?p=184921&postcount=609

sunandsailcat

Alpine_Star wrote: »

"We have no PPI related announcements scheduled for Friday."

http://www.legalbeagles.info/forums/showpost.php?p=184915&postcount=608

http://www.legalbeagles.info/forums/showpost.php?p=184921&postcount=609

Just found that thread too.....given that the JR dates are now in the diary and although the FSA stated that they expect claims to continue to be handled certain banks have put claims on hold, we might have expected the FSA to reiterate their stance that claims should continue to be handled in the appropriate manner. Has anyone actually asked this question of them or have the FSA just gone completely silent on the matter?

tiggrae

Alpine_Star wrote: »

"We have no PPI related announcements scheduled for Friday."

http://www.legalbeagles.info/forums/showpost.php?p=184915&postcount=608

http://www.legalbeagles.info/forums/showpost.php?p=184921&postcount=609

Looks like someone (ie debt55) has been leading us all up the garden path !!

petecorfu

tiggrae wrote: »

Looks like someone (ie debt55) has been leading us all up the garden path !!

im sure it was thebigdog not debt 55 that said these things!

Alpine_Star

It was debt.

debt55 wrote: »

FSA to make a statement this Friday!!!

Yipeee our saviours!!