Judical Review Roundup – our meetings with BBA & FOS

Gladstone Brookes held discussions with the British Bankers Association, (BBA – the group who represent British banks in the UK) and the Financial Ombudsman Service (FOS) to discuss the ongoing Judicial Review with the PPI Claims process , and what it means to our customers.

Gladstone Brookes are doing what they can to protect our Clients and get some clarity on this ongoing issue. From our investigations we have ascertained the following:
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UK Banks Judicial Review Latest

This morning the BBA released the following statement “The BBA’s members will continue to handle all PPI-related complaints in accordance with FSA rules. Where the assessment of the complaint would not be affected by the judicial review, these complaints will be handled in the normal way. If your complaint will be impacted by the judicial review, and cannot be resolved at this point, then your bank will write to inform you.

“Customers shouldRead More

Banks PPI Claims Court Fightback – UPDATE

To follow on from yesterday’s post in respect of the Judicial Review issued by the British Bankers Association (BBA) Gladstone Brookes can confirm that most of the banks we deal with are continuing to handle PPI claims whilst the Judicial Review is ongoing. The only exception is the Lloyds Group who have confirmed : “We will stand by any settlements that have already been made to customers. The court case will not affect those offers.
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Banks PPI Court Fightback – what it means to you

British Banks have launched a legal challenge against the validity of the raft of new PPI Claims measures being bought in by the FSA in December. The British Bankers Association has, on behalf of its members gone to the high court and asked for “Judicial Review”, claiming that the new rules are unfair, specifically that the rules are being applied retrospectively – but what does this mean to you?

  1. The banks aren’t denying liability or that they have done anything wrong. They are concerned that the FSA’s new guidelines are fundamentally changing the way that complaints in general are handled by the Banks and are asking for clarity from the Courts as to whether the FSA have the authority to do this.
  2. The FSA have insisted that banks continue to investigate payment protection insurance claims whilst the Judicial Review is ongoing. They have confirmed that if the banks do use this Judicial Review as a reason to put their investigations on hold, the complaint be referred to the Financial Ombudsman Service for adjudication.

We aim to keep you updated with the latest news, as it happens.