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  • Help Needed. MBNA redress calculations Do you have two spare stamps

    Letter to Martin Wheatley.docLetter to Tony Boorman.doc

    I would like to thank Niddy for allowing me to post this.

    There is growing evidence that MBNA have selected a method of redress for PPI claims which is not consistant with the regulators view of how redress is calculated. This appears to affect post summer 2012 claims.

    Indeed regulator compliant calculations are giving redress totals of up to 50% more than MBNA do.

    The calculations MBNA are using are dressed up to look regulator compliant. So much so they are appearing to fool FOS adjudicators and indeed some Ombudsmen. They are difficult to explain so I wont just yet.

    Why are they fooling FOS?

    Because it seems FOS only need positive assertion that the calculations are correct. There appears to be little or no actual checking of figures. They only need MBNA to say they are compliant then they are accepting this as ok.

    Where we need peoples help is to send a letter to both the heads of the FCA/FOS to alert them to a potential problem as many of the claims will be just starting to stir at FOS. (This however will not include anyone who didnt check their redress was something like it should be. Your only way to pull this out of the fire will be to hope we get a general re calculation)

    The attached letter is designed for anyone to send who has an interest in fairness to consumers. It is designed to get a high level response from one or both organisations. It is only supposed to open up a communications channel on behalf of everyone who may have suffered. We will try and do the rest.

    Because of the way these organisations are set up we need numbers to get them to talk to us on behalf of consumers. And this is where anyone with a bit of time 2 stamps and a printer could help bring a bank to account. Even people without claims but a sense of fairness are invited to help us.

    So please please please if you are reading this send to Mr Wheatley and Mr Boorman. They wont be able to say they havnt been invited to talk to us in the future if this blows up as it has the potential to do. If contact is initiated all you have to do is pass them to me or Bill K.

    Many thanks for anyone who decides to help.

  • #2
    Re: Help Needed. MBNA redress calculations Do you have two spare stamps

    FOS CEO office have replied with a standard holding letter. They are looking into this.

    Again can only plead if you have couple of stamps and ten mins spare to get these posted off. We are not expecting anyone to do more than this. However if we are right (We think we are) then the bank is in trouble and in time it will be a big news story. A news story you helped to create with a couple of stamps.

    For anyone who has been abused and scared by the banks here is a cheap chance to get back at one for the benifit of thousands of other consumers who as yet dont know anything about this.

    Comment


    • #3
      Re: Help Needed. MBNA redress calculations Do you have two spare stamps

      I have blogged this on AAD Blog and will add to Twitter and FB shortly.

      --> http://forums.all-about-debt.co.uk/e...o-spare-stamps

      FB -> https://www.facebook.com/allaboutDEB...?stream_ref=10

      TW -> https://twitter.com/allaboutDEBT/sta...50195732664320
      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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      • #4
        Re: Help Needed. MBNA redress calculations Do you have two spare stamps

        Thanks Niddy just what we needed.

        Comment


        • #5
          Re: Help Needed. MBNA redress calculations Do you have two spare stamps

          Ken, as you know GT and I have sent our letters!

          Hopefully, many others who have been affected will do so too.

          Come on Guys, get those letters to the FCA and FOS in the mail; post them off today.

          Comment


          • #6
            Re: Help Needed. MBNA redress calculations Do you have two spare stamps

            The FCA aren't in force yet are they? Or have I missed the obvious....
            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

            Comment


            • #7
              Re: Help Needed. MBNA redress calculations Do you have two spare stamps

              The FSA homepage seems to indicate they have split as it is no longer being updated and refers people to the FCA or the PRA. Doesnt seem to be a CEO of the FSA hence the way we went.

              So think technically it is April this year?? that the change happens but in real life the FCA is in place and is operating.

              Even if it isnt fully operational I doubt our complaint is going to be dealt with within 2 months, so it will be the FCA who will be doing any talking to the bank, if they decide it has merit

              http://www.fsa.gov.uk/

              Comment


              • #8
                Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                You know the places I have worked recently Niddy. We have referred to and been trained on the FCA. Cant recall if the are a full organisation as yet though
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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                • #9
                  Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                  Originally posted by Never-In-Doubt View Post
                  The FCA aren't in force yet are they? Or have I missed the obvious....
                  Yes, the Financial Conduct Authority (FCA) is currently in operation or, in force, as you put it!

                  The only change that will take place will be in April 2014; will be that the Consumer Credit Regime will be taken over by the FCA; it has been and is under the Regime of The Office of Fair Trading until April 2014.

                  You can just imagine what all those bad boys/Cowboys in the city would be doing if, the FCA is not currently in force...! Just picture it Red Braces galore and all swigging lovely Bolli; we can run rings around the FCA until April gov., 'cos they're not in force, yeah, blimey.
                  The very thought of that scenario makes one shudder

                  Comment


                  • #10
                    Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                    Originally posted by ken100464 View Post
                    The FSA homepage seems to indicate they have split as it is no longer being updated and refers people to the FCA or the PRA. Doesnt seem to be a CEO of the FSA hence the way we went.

                    So think technically it is April this year?? that the change happens but in real life the FCA is in place and is operating.

                    Even if it isnt fully operational I doubt our complaint is going to be dealt with within 2 months, so it will be the FCA who will be doing any talking to the bank, if they decide it has merit

                    http://www.fsa.gov.uk/
                    No Ken, the FCA is fully operational, right now!

                    Comment


                    • #11
                      Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                      Cheers for the confirmation AC

                      Comment


                      • #12
                        Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                        Originally posted by Angry Cat View Post
                        Yes, the Financial Conduct Authority (FCA) is currently in operation or, in force, as you put it!

                        The only change that will take place will be in April 2014; will be that the Consumer Credit Regime will be taken over by the FCA; it has been and is under the Regime of The Office of Fair Trading until April 2014.

                        You can just imagine what all those bad boys/Cowboys in the city would be doing if, the FCA is not currently in force...! Just picture it Red Braces galore and all swigging lovely Bolli; we can run rings around the FCA until April gov., 'cos they're not in force, yeah, blimey.
                        The very thought of that scenario makes one shudder
                        Haha - that's a funny scenario and one suitable for the backstreets of Iran....

                        thanks for clarifying, obviously as a consumer we don't necessarily see much change just yet but it's good to know these powers with teeth are there, unlike it's predecessors!!
                        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                        Comment


                        • #13
                          Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                          Hi
                          Any chance of putting those attachments up as pdf's?

                          tia

                          EDIT - never mind, sorted now. Not got PPI but will send the letters.
                          Last edited by Still Waving; 6 February 2014, 17:48.

                          Comment


                          • #14
                            Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                            Letter to Martin Wheatley PDF.pdfLetter to Tony Boorman PDF.pdf


                            Hope that worked

                            Comment


                            • #15
                              Re: Help Needed. MBNA redress calculations Do you have two spare stamps

                              tony.boorman@financial-ombudsman.org.uk

                              martin.wheatley@fca.org.u k

                              For anyone who doesnt use snail mail anymore.

                              Thanks Still Waving.

                              We are slowly getting there. Great if anyone else would do this.

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