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Legal challenge ("judicial review") on payment protection insurance (PPI:
Judgment was handed down by the High Court in London on 20 April 2011, following the legal challenge ("judicial review") brought by the British Bankers Association (BBA) – on behalf of a number of high-street banks – against the Financial Ombudsman Service and the FSA on the approach to handling PPI complaints. The judgment endorses the approach taken by the ombudsman and the FSA. The banks have 21 days to consider whether to appeal.
The ombudsman service continues to handle large volumes of PPI complaints. Since the BBA launched its legal challenge in October 2010, the ombudsman has been receiving up to 5,000 PPI cases each week. The lack of cooperation from some financial businesses has made it difficult to progress PPI cases over this.....Read more HERE
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5corpio started a blog post Legal challenge ("judicial review") on payment protection insurance (PPI)Legal challenge ("judicial review") on payment protection insurance (PPI)
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Sally Bowyer, MD of leading regulated claims management company, BrunelFranklin.com , said:
“This is a triumph for consumers and for common sense. We always believed the banks’ legal arguments were flawed and we are pleased that consumers now appear free to claim the refunds we believe they have always been entitled to. Of course the legal process may continue with further appeal......Read more HERE
Our forum link to the actual judgment is found here; ---> The BBA v FSA/FOS (PPI Judicial Review) [2011]