Judicial Review ongoing and Banks Refuse to Investigate Complaints

So, one week on from the the Judicial Review and no clearer as to what all the court action is really about.

All we know is that the banks are beginning to refuse to deal with PPI complaints - irrespective of the merit and in complete defiance of the FSA and FOS. There is still no confirmation of which cases the JR affect and the banks are even refusing to pay out on cases they have already offered compensation.

Our advice to consumers is to plough on regardless and not be put off by this latest ruse, even if the process may take a little longer. Sadly, this culture of opposition has been a feature of the PPI claim process throughout, from the endless claim forms to the rejection letters, and this is the latest instalment.

Coincidentally, this week saw the Competition Commissions ban coming into effect. Although the specific provisions may take a year to come to fruition, we can be safe in the knowledge that banks will be unable to sell PPI to consumers in the future. The Competition Commission acknowledged that the sale restriction would inconvenience some customers who wanted the insurance, but it argued that customers would be much better off overall.

If you feel you have been mis-sold PPI, then give PPI Return a call on 0800 877 8888. PPI Return is a division of Goldsmith Williams Solicitors.

Judicial Review Announced

Big news this week with banks deciding to take legal action against the Financial Services Authority.

Although it has not been made entirely clear, it would appear the banks are particularly displeased with some of the new FSA rules concerning the handling of PPI complaints which will be put into force on 1st December.

Particularly, the rules suggesting previously denied complaints should be re-opened, investigated and paid out. Furthermore, the banks have been requested to undertake a proactive approach to contact customers who were sold PPI to see if they were mis-sold.

The action has not, and should not, affect any ongoing complaints – the FSA has made it clear it will not move to do so (like it did with bank charges).

We will continue to monitor the judicial review and report back with any further updates.

So - this changes nothing in the way in which cases will be dealt with in the foreseeable future and if you want to make a claim - contact PPI Return at http://www.ppireturn.co.uk/. PPI Return is a division of Goldsmith Williams Solicitors.