What does the Judicial Review mean?
16-Feb-11 by Tim Moore
As you have probably heard, the British Bankers’ Association (BBA) have been in court with the Financial Services Authority following their request for a judicial review into new rules that have been imposed on them with regards to mis-sold PPI. The rules are meant to ensure that customers are being treated fairly.
At the moment we are still waiting for the judgement, which has been reserved. We have been hearing all sorts of stories about how the banks have been passing this information to customers, but our understanding is that in court the BBA stated that the judicial review, if it went in their favour, wouldn't have much effect on actual PPI mis-selling claims and would only effect the ''more complex'' cases.
And in the meantime, on the BBA website it states: "The BBA's members will continue to handle all PPI-related complaints in accordance with FSA rules. Where the assessment of the complaint would not be affected by the judicial review, these complaints will be handled in the normal way.”
So there is no reason not to make a claim, or to believe that the result of the judicial review will have any effect on the outcome of the majority of PPI claims.
Whether the banks decide to try and delay claims following the review remains to be seen. You can rest assured though that Portal Claims will keep working hard to get back the money that we believe is rightfully yours.
Tim Moore
Partner
Portal Claims
