Help Needed. MBNA redress calculations Do you have two spare stamps

[PlanB]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

it is a genuine effort by a bunch of amateurs to force the powers that be to actually exercise those powers properly..

I've seen this post on another forum which suggests that you have now achieved your objective.

Well done you

• I am most pleased to announce that we have now received a request from the FCA's PPI Redress Team Manager for full details of our analysis.This was the eventual outcome we had hoped for from this 'mail-drop' exercise, and it is entirely the result of the efforts of those who sent letters and emails to the FCA & FOS. There is therefore no need of any further letters/emails to either the FCA or FOS - and I and the 'MBNA Calculation Group' wish to thank those here in LB who have supported us with this venture. We will report back here when we have any news or results, but we may not know the outcome until such time as the FCA or FOS publishes it.

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Although I think I can see PB's journalistic point - roughly on the lines of "He who hesitates is lost," I am also of the opinion that this is more of a "Softly, softly - catchee monkey" approach, and our little group have been discussing it privately for quite some time. The priority is to get the FCA to investigate MBNA's methodology - not to establish any particular forum as the 'ground breaker.' This is why we have posted our findings in a whole bunch of forums. If we get a result, then maybe our little off-site discussion group can scrape up some kudos for that - but this is not a quest for publicity - it is a genuine effort by a bunch of amateurs to force the powers that be to actually exercise those powers properly.

Having said that - I think Niddy has done us proud with this little exercise, and he certainly seems to have taken it on board 100% - thank you, guv'nor !!! And likewise with all you AAD guys who have also shown a positive attitude toward this matter, and sent off those letters. The little acorn tree seems to be bearing some fruit now, and I (personally) want to see how it grows, now.

[PlanB]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

PlanB, with the greatest of respect, we do not need any knee jerk reactions; we are focused, have a plan and intend to stick with it!

Fair enough

[Angry Cat]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

PlanB, with the greatest of respect, we do not need any knee jerk reactions; we are focused, have a plan and intend to stick with it!

Please bear in mind that it took a long time for Consumers to win RE: the PPI scandal and Rome wasn't built in a day.

Rest assured that WE are absolutely steadfast about bringing MBNA to account but everything has to be carefully considered within our presentation to the FCA.

[PlanB]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Now its up to us to get over to the FCA what we know. If we can we wont need lawyers. MBNA will.

If MBNA instruct lawyers to deny and defend their position (and they will) then maybe the consumer needs to be equally tooled up. This is one hell of an accusation being made against them involving potentially hundreds of thousands of pounds. Am I correct in stating that the banking industry as a whole has acknowledged over £10billion for PPI reclaims to date and it hasn't ended yet?

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Thank you for your Comments Plan B

We are open to any.

Our intention is to go the obvious way which is FCA/FOS first. If FCA decide we have a point or two I doubt MBNA will be particulary flavour of the month.

We just needed critical mass to get over the odd consumer complaining doesnt get anywhere hurdle. Both FCA and FOS have sent holding letters. Thats what we hoped when we asked people for a stamp or two. It worked we have the communication channel open.

Now its up to us to get over to the FCA what we know. If we can we wont need lawyers. MBNA will.

[PlanB]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

we have plenty of time prior to involving the Press; the last resort really.

The journalist who is the first to break the story owns the story. It would be nice if AAD was the first resort not the last resort

[PlanB]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I prefer to leave the press out of it until we have allowed the FCA enough time and chances to respond.

Would it make sense to get a lawyer interested with a view to compensation cases for those who may have been short-changed by MBNA? Obviously this could be done through the FOS complaints' system on an individual basis, but sometimes a collective voice works wonders when it comes to speedy settlements. The FOS don't always understand the wider implications. They don't understand the legal/financial argument that if you'd had the money you were denied at the time you were denied it your life may have been different e.g. you may not have got into financial difficulties and all the horrors which flow from that. Just thinking out loud and not interfering.

[PlanB]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I suspect the FOS (specifically our Lynsey) appear to have been told to attend to this and report back to the FCA when the trigger figger is reached - or any other significant matter arises. If we allow enough time, I believe the FOS will take it to the FCA, who will then - finally - do something about it.

Does anyone know what the FOS' trigger figure is for getting a complaint considered as an problem worthy of a full-on FCA investigation into MBNA's business practice (aka alleged cheating) rather than a collection of individual grievances?

Are you waiting for 1st April (when the FCA takes over regulation of creditors' licences from the OFT ) to get this taken seriously?

[Angry Cat]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I also received mine; Ginger Tom too!
As expected but very pleased as the response is positive:

"...In the light of this, we would be happy to receive the information you mention in your letter in this context."

In short, we now have their attention!

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Still Waving

I got mine too and a number of other forums are posting positive responses.

Thank you for this effort its much appreciated. We will post up on here what if anything we would like you to do with the response. We are hoping your help has done just what we hoped it might. Open communication with the FCA

So a very big thank you.

[Still Waving]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Response received this morning from Chris Preston, Manager - PPI Redress Team, Retail Banking Dep't, FCA.

A whole page of waffle including "However it is important to note that we are not a complaints handling body." Essentially saying to take it up with FOS.

[Angry Cat]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I have now received my Valentine card from Lynsey Pittaway.

I'm inclined to think that the FCA are simply following their normal procedure, which is to treat all individual correspondence with the contempt they think it deserves. However, I do think in this case the FOS and FCA will be liaising sooner or later with this, as the open letters continue to arrive (and thanks again all you guys). At present, I suspect the FOS (specifically our Lynsey) appear to have been told to attend to this and report back to the FCA when the trigger figger is reached - or any other significant matter arises. If we allow enough time, I believe the FOS will take it to the FCA, who will then - finally - do something about it. IMHO, I prefer to leave the press out of it until we have allowed the FCA enough time and chances to respond.

I would suggest that we perhaps send Martin Wheatley copies of the letter by email, asking for the basic courtesy of an acknowledgement of receipt at the very least.

Oh yes Bill, we have plenty of time prior to involving the Press; the last resort really.

We know that Mr. Martin Wheatley is in receipt of at least one of the letters. Namely, from GT who sent both of his via Royal Mail recorded delivery !

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Thanks Still Waving. This is much appreciated.

[Still Waving]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Acknowledgment received from Lynsey P, FOS.