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MSE News: Banks lose crucial PPI judicial review

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MSE News: Banks lose crucial PPI judicial review

edited 20 April 2011 at 2:56PM in Reclaim PPI & Other Insurance
48 replies 8.5K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 20 April 2011 at 2:56PM in Reclaim PPI & Other Insurance
This is the discussion thread for the following MSE News Story:

"Banks have lost a crucial High Court judicial review into the future PPI reclaiming ..."
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Replies

  • proelecheproeleche Forumite
    137 posts
    Excellent news! However, I have a feeling the banks will attempt to appeal all the way to the Lords again.
  • mjanmjan Forumite
    70 posts
    Ninth Anniversary
    Good news!

    Just a shame the banks are allowed to appeal so we have to wait a longer time for our money:( but still good news :j
  • Very Happy :j. Knowing the way banks are I have a feeling this won't last, as it will be appealed until the outcome is in favour of the banks.
  • Excellent news!
  • metalgalmetalgal Forumite
    320 posts
    I haven't had PPI but I am sure someone in my family has. The banks will try to worm their way out of it, but I will be curious to read the case to see why they lost.
  • J_i_mJ_i_m Forumite
    1.3K posts
    I wouldn't want to get carried away by this yet to be honest.

    The BBA is bound to appeal, so this is set to drag on for a long while yet.

    How many times can a losing side appeal before the case is thrown out altogether?
    :www: Progress Report :www:
    Offer accepted: £107'000
    Deposit: £23'000
    Mortgage approved for: £84'000
    Exchanged: 2/3/16
    :T ... complete on 9/3/16 ... :T
  • marshallkamarshallka Forumite
    14.6K posts
    The high court judgment endorsed the approach taken by the ombudsman and the FSA, and the banks now have 21 days to appeal.

    Then how long after (if they appeal that is!!!) will the next stage take and will they continue to look into complaints even then. Will they defy the FSA still?
  • liam8282liam8282 Forumite
    2.9K posts
    ✭✭✭✭
    I wouldn't hold out any hope, it will be appealed until the banks can eventually swing one decision there way, just like they did with the bank charges.

    Corruption at it's best if you ask me.

  • di3004di3004 Forumite
    42.6K posts
    http://www.bba.org.uk/media/article/judgement-handed-down-on-bba-judicial-review

    Judgement handed down on BBA judicial review

    “On behalf of its members, the BBA requested a judicial review of the way in which the industry should handle complaints about PPI sales, as set out in the Financial Services Authority's policy statement.
    “Whilst the UK banking industry has to date implemented every reform on PPI sales and complaints handling required by the regulators, the additional requirements in the policy statement effectively apply new standards to past sales, which we believe go beyond the rules and regulatory requirements which were developed by the regulator over time.

    “It was due to the widespread concerns that the FSA and the Financial Ombudsman Service had not properly applied the law in this area – and only having exhausted all other avenues for resolving the underlying dispute that a judicial review was sought.
    “We are disappointed with today’s judgment and now need to consider the details of it very carefully as well as next steps, including whether it would be appropriate to apply for permission to appeal.

    “Any complaints that are directly affected by the judicial review and therefore can not be decided will continue to be placed on hold until the next steps have been decided. We will continue to work closely with the FSA to ensure that all complaints are appropriately handled and customers are not disadvantaged. Customers who are considering making a complaint or who have a specific query about an existing complaint should contact their bank in the first instance.”
    The one and only "Dizzy Di" :D
  • J_i_mJ_i_m Forumite
    1.3K posts
    So basically they're going to leave us hanging for 21 days, and then bang! "Muahhahaah! We're appealing."
    :www: Progress Report :www:
    Offer accepted: £107'000
    Deposit: £23'000
    Mortgage approved for: £84'000
    Exchanged: 2/3/16
    :T ... complete on 9/3/16 ... :T
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