Thread: CAG-MSE Fighting Fund

With the latest announcement from the OFT and the FSA and given that Banks now have sent a directive to their complaints management departments whom, are telling all claimants that all claims in court have been stayed pending the outcome. Is it not right that the FSA should instruct the Banks to stop applying charges pending the outcome which, could take 2 years.

Can CAG-MSE start some kind of legal action against the FSA using the fighting fund which was/is £100K on the grounds that a total imbalance between the Banks and the consumer has been created and that, claims which are not filed at court will erode in time due to the statutes of limitations act.




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claims which are not filed at court will erode in time due to the statutes of limitations act.

How is that the FSA's fault? People still can, and should, file at court. If they choose not to because they prefer to wait and see the outcome of the OFT court case, that is their choice. :-?

IMO: The FSA and the OFT have not made it clear to claimants that they can continue to file claims at Court however, they have said as in C/C recommendations that "It is up to a Judge to decide" little help when the Banks are already putting out statements to claimants that " All cases will be stayed".

Simply, people will be put off claiming and I understand that MCOL are refunding filing fees, it will take the Courts 5 minutes to dump their work load in the same way.

At least the FSA should have held up the Banks from applying further charges for the same reason they have literally let the Banks off the hook.

While you and I can use a computer and come here and other places to read what is actually happening in real time, there are millions who are not computer literate and have no idea what do next, they fall prey to the Banks head office directives and or tactics to deter claimants, much in the same way Lloyds and others have been doing for example the Birmingham case, the Hull strike outs!

Yes, in my opinion the FSA are to blame for jumping on the we are not paying out band wagon, they should be made to reverse the waiver on complaints until such time a high court ruling is made. It is a disgusting abuse of a system funded by the banks. For that matter the fos has failed consumers and turned out to be another toothless tiger.

Finally, people will be put of claiming and they will lose out dramatically by not doing so, due to, statutes of limitations possible s69 interest.

Informed choice is fine but, as I have said earlier most do not know what the choice is as they have been mislead and mis informed by the media.

It is time for action as the consumer groups had no say in what has been hatched by the establishment.