The British Bankers Association launched a judicial review over the new rules on how complaints about payment protection insurance (PPI) should be handled by a bank in January and the review has been on going until today when the judge ruled in favour of the consumer.

Unfortunately it is not all great news as the BBA can still appeal against the high court ruling which will mean many more months in court. The appeal must be made by the 10th of May.

However we are hopeful that banks will learn from this loss and start processing claims again.

UPDATE

“Judgment was handed down by the High Court in London on 20 April 2011, following the legal challenge (”judicial review”) brought by the British Bankers Association (BBA) – on behalf of a number of high-street banks – against the Financial Ombudsman Service and the FSA on the approach to handling PPI complaints.

The judgment endorses the approach taken by the ombudsman and the FSA. The banks have 21 days to consider whether to appeal.

The ombudsman service continues to handle large volumes of PPI complaints from consumers. Since the BBA launched its legal challenge in October 2010, the ombudsman has been receiving up to 5,000 PPI complaints each week.

The lack of cooperation from some financial businesses has made it difficult to progress PPI cases over this period. However, the clear-cut judgment means that banks and other financial businesses should now be in the position to deal promptly, efficiently and fairly with their customers’ PPI complaints.”

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