The clarity of legal needed the members of British Bankers’ Association
The members of British Bankers’ Association said that their company has supported their decision to ask the legal clarity of the judicial review and the complaint of payment protection insurance measures. The BBA issued a judicial review which challenging the legality of the package of measures the FSA, which do in August to reorganize the way of PPI to handle the complaints.
“The rules are currently being used retrospectively to criticize OMB Financial Services in udsman-site based on the rules of the FSA’s “, says trade body. The case tried in the High Court in January and in April, but the court supportive of regulators and FOS in the case. BBA has appealed but the trade body decided against it after the withdrawal of support from the Lloyds Banking Group and Barclays.
“The case of the PPI package disputed by the banks in one of the regular meeting of the committee and they indicated to us that they needed legal clarity in this regard. BBA will solve the problem of retrospective regulation of FSA. Jason Witcombe as a director of Evolve Financial Planning says that the banks have to know its members who do the wrong thing to the clients and now they need the clarity of the law.