PPI claims continue to come through

legal updates

Remember, if you receive a complaint, you are required to respond within a fixed time frame so don't sit on it.

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Although there has been a slight reduction in PPI claims arising there is still a steady stream coming through.  

Remember, if you receive a complaint, you are required to respond within a fixed time frame so don’t sit on it. 

Secondly, the PPI issues have been a timely reminder to clients of the necessity of keeping records and this particularly applies when dealing with finance related sales.   

The Financial Ombudsman Service (FOS) will want clear evidence if any complaint is sent their way and a piece of paper with a signature is extremely valuable to show what procedures have been followed.

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Related Legal Updates

Do I have to reply?

The lender writes to our member for assistance with paperwork, but our member decides to ignore it.

More of the same from the FCA

Dealing with discretionary commission arrangements and concern that customers are not getting a fair deal on GAP (Guaranteed Asset Protection) insurance products.

FCA Commission Review: Separating fact from fiction in the wake of scaremongering

Attend a complimentary seminar hosted by the FCA for first-hand information – Scheduled for Wednesday, 24 January 2024.

The FOS reports over 10,000 motor finance complaints: Are we really surprised?

The good news currently is the FCA is focussing its attention on the lender and not our members.

The Motor Ombudsman (TMO) – Is it “fit for purpose”?

It seems TMO never sought to ask that basic question and, by the time the penny finally dropped, the contract with the finance company had taken place more than six years ago

Another victory, but the problem has still not gone away!

The FOS confirmed in the article they had not yet published any final decisions on commission-related complaints.

Consumer Duty – all about good outcomes

The FCA’s website has plenty of information to help firms and they have been discussing the Consumer Duty on their Inside FCA podcasts.

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