Lloyds not giving final response until FCA release new guidance

dunstonh

robbies_gal wrote: »

i got this letter or my husband did from natwest

they said his ppi was not misold but due to this new guildlines will have to wait for a dicsion

no idea what that means can someone please explain about this case theyre refering to?

Court case of Plevin. It has led to the FCA looking to set a maximum commission level. Anything above that level will be rebated plus interest.

robbies_gal

but theyve alreay said in the same later they belive it hasnt been missold so im not sure i understand why they cant give a final decision

does this case override their decision?

jellie

robbies_gal wrote: »

but theyve alreay said in the same later they belive it hasnt been missold so im not sure i understand why they cant give a final decision

does this case override their decision?

The delay isn't to do with misselling, it's about the amount of commission you were charged.

There's previous threads on here about Plevin, or a quick google will explain it in detail.

robbies_gal

ok thanks will go have a look

dunstonh

Basically, Plevin only applies on rejected complaints. It does not apply on upheld complaints. So, if you are held up by the FCA ruling on plevin, it means you are unsuccessful but may get a part refund.

[Deleted User]

dunstonh wrote: »

Loan PPi is upheld in most cases. Credit card is closer to 50/50. The main difference is the way the products work.

While that may well be true statistically, "Lunatic Flea" reports a failure of the loan complaint and a success with the credit card!

Regardless, as was often pointed out earlier, every complaint is dealt with on it's own merits and the decision to uphold is often nothing to do with what the customer actually complains of. Since the Banks never actually reveal the reasons for a decision to uphold, it is futile to compare the results of one complaint with another.

Lunatic_Flea

My point was that the info provided in both claims were mostly the same because of the following:
Working for same employer in both cases
Entitled to 6 months full pay 6 months half pay in both cases
Death in service in both cases
Same critical illness policy in both cases
Claim against same bank in both cases

How they were sold might have been slightly different.

Thanks for all your help

[Deleted User]

Lunatic_Flea wrote: »

My point was that the info provided in both claims were mostly the same

All complaints are judged on their own merits.
No two complaints are the same.
Banks don't reveal why complaints are upheld, only why they are rejected.
The reasons complaints are upheld may have no bearing on the actual reasons given by the customer. Some complaints are even upheld without any investigation, with the bank taking a business decision to do this.

It is, therefore, utterly futile to compare the result of one complaint with another.

I think this information has already been repeated several times before in the thread.

Lunatic_Flea

Okay thanks for help.

yram12

I received same letter, 3 weeks later had a text saying Lloyds had been trying to get in touch with me regarding ppi claim saying they now have details of how much I am due and to reply post to receive my pack. the text was sent from an 0794 number I replied post but have heard nothing does anyone know what receive pack means.Thankyou