Barclays PPI Claim

lana3111

Hi
Could any help with the following please. Why did Barclays originally only look back on PPI claims to 2001 then re-opened cases (mine included) going back to 1996. Did they decided to do it themselves or were they forced to do it by the Financial Ombudsman Service (or some other financial body)?
Many thanks
Lana

[Deleted User]

They managed to recall some of the data from archive. They're required to provide any information they can.

[Deleted User]

lana3111 wrote: »

Why did Barclays originally only look back on PPI claims to 2001 then re-opened cases (mine included) going back to 1996.

Barclays found information thought to be lost or irretrievable. They did the honest thing with this information and re-opened cases affected. They are, however, required to do this by the Regulator.

lana3111

Hi

that is great, many thanks.

SonOf

Why did Barclays originally only look back on PPI claims to 2001 then re-opened cases (mine included) going back to 1996. Did they decided to do it themselves or were they forced to do it by the Financial Ombudsman Service (or some other financial body)?

Barclays were honourable and brought back information onto their systems that had long been archived into non-searchable storage. Something most other lenders have not done.

The FOS did not force them to do that and does not have the powers to make them do that.

[Deleted User]

SonOf wrote: »

The FOS did not force them to do that and does not have the powers to make them do that.

While this is true, once Barclays retrieved the information the regulator would certainly expect them to use it proactively. They could hardly keep it a secret..