Tag Archives: PPI

FOS feeds back on PPI time limit changes

FOS has published feedback to its consultation on changes to the time limits for PPI complaints. It merely confirms the amendment to the Voluntary Jurisdiction in line with FCA’s changes to the Compulsory Jurisdiction. The relevant instrument took effect at the end of August.

FOS updates complaints data

FOS has published individual complaints data for H1 2017, relating to businesses in relation to which FOS both received and settled at least 30 cases during the period. FOS says these firms comprise around 95% of the total cases it handled. The highest levels of complaint related almost entirely to PPI claims, with the only other significant […]

FCA launches PPI campaign with help from ‘Arnold Schwarzenegger’

The FCA has today launched its PPI campaign with a television advert in order to raise awareness of the two year deadline to make a complaint about payment protection insurance. The deadline, which has been introduced by the FCA in order to prompt people to check whether they had PPI and whether they want to make a complaint, ends […]

MoJ publishes Plevin guidance for CMCs

The Ministry of Justice has published guidance for claims management companies when they handle cases relating to Plevin. The guidance mainly explains what FCA’s expectations are and stresses that CMCs must not mislead clients about likely levels of redress. It also cautions against referring complaints to FOS without properly engaging with the relevant financial business […]

FCA sets out its supervisory approach to PPI

The FCA has today announced that it will soon be launching a campaign to inform people of the 29 August 2019 deadline for making a complaint about PPI.  The campaign will contribute to the regulatory and supervisory work the FCA has already done around PPI and will continue to do. The campaign, which will be […]

Rise in complaints for PPI

This week FOS published its regular newsletter in which it discussed: a rise in consumer credit complaints; statistics on complaints received in the first quarter of 2017/2018; and an update on PPI and the FCA’s new rules and guidance FOS’ Annual Review The annual review published earlier in the summer by FOS identified that complaints about […]

FOS consults on PPI voluntary jurisdiction

In March 2017 FCA announced it was introducing a 29 August 2019 deadline for all PPI complaints to be submitted to firms or ombudsman services (subject to limited exceptions). This rule comes into effect on 29 August 2017 and applies to firms within the FOS’ compulsory jurisdiction (CJ). However, this rule currently will not apply to firms that […]

FOS publishes annual review

  FOS has published its annual review for 2016/17, a period which it described as ‘immensely demanding’. Similarly to previous years, FOS reported that much of its activity focused on PPI complaints, but this should finally reduce with the August 2019 time limit for potential claims. The rules and guidance following the Plevin judgement will come into […]

PPI: the final countdown

We have written an article on the new timescale for handling PPI complaints, the FCA’s customer communications campaign and its new rules on writing to customers whose complaints have previously been rejected and the consequences of the Plevin decision.

FCA publishes first new-form complaints data

FCA has published the first set of complaints data (covering the second half of 2016) that firms have reported since last year’s rule changes that give firms 3 days to address a complaint to a consumer’s satisfaction but the data reflects all complaints. Because of the change in complaints captured, the figure (3.04m) is higher […]