PPI claiming company We Fight Any Claim vowed to have the Financial Conduct Authority’s decision to endorse a PPI claims deadline by August 29, 2019 undergo a judicial review. The claims company had warned two years ago that if the City watchdog moved to remove the right of consumers to make a PPI claim, the company would move to litigation.
According to We Fight Any Claim, the decision to endorse a PPI claim deadline only benefited banks and it was unlawful because the watchdog violated its responsibility to uphold consumer rights regardless of the situation.
We Fight Any Claim legal advisor Mark Davies said that the company warned the FCA their move to agree with a PPI claims deadline would be unlawful. The company has reached out to the Watchdog regarding details and the opinion of Stephen Knafler QC, who said it is probably unlawful for the FCA to endorse or even set in place a PPI claims deadline.
Observers estimate that a million and a half number of consumers are likely to file PPI claims against their respective banks and with the help of the arbitrating body Financial Ombudsman Service to reclaim consumer refunds.
Consumer groups expressed concern over the deadline as the FCA’s planned public address communications campaign would likely leave the elderly unlikely using technology or viewing television to fight for their PPI claims.