We had some interesting updates in the world of PPI last week. The judicial review is still being considered, but it looks like we may be seeing the application heard at court towards the end of January. Most of the lenders are continuing to review cases, despite the JR, but we are still continuing to receive offers and so would urge people to continue to make claims.
The FSA also released a response clarifying some of the rules which they were intending to implement on the 1st December. The FSA felt the BBA may have misinterpreted some of the rules and so have issued some clarification. It is fair to say that the FSA have been pushed into this position as a result of legal advice and we await the BBA's response.
In terms of all the 1st December rules, it appears most banks are refusing to implement the rules until the Judicial Review has been decided. This doesnt mean that more claims will be placed on hold, but it does mean that the new rules on complaint handling cannot be brought in. We are however, confident that a proportion of claims will be continued to be investigated regardless.
If you think you have been mis-sold Payment Protection Insurance, don't hesitate to approach us to make a claim at http://www.ppireturn.co.uk/
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