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Fri, 16 Mar 2012 12:18:31 GMT

After the decision by the LLoyds banking group and Barclays to stop processing PPI Claims due to the call for a judicial review from the BBA (see related article) it comes as a breath of fresh air that at least one Bank is to carry on as normal and keep on processing any claims from their customers.

Santander have distanced themselves from the other banks by sticking to the current FSA regulations. The flagrant breach of the FSA rules by the other banks is breathtaking and it will be interesting to see what teeth the FSA has actually got to bring these banks back into line. The FSA have not given the banks any waivers and the banks stance is in defiance of the FSAs statement that PPI Claims should still be processed even if a judicial review goes ahead.

Alliance and Leicester were fined £7 million pounds for their mis selling activities especially for Loans taken out between 14th January 2005 and 31st December 2007 which were conducted by telephone. So A+L doe have previous for mis selling of PPI but Santander are doing a very good job of cleaning up the mess and they are dealing with claims in a speedy and professional manner. This is in stark contrast to other banks, HSBC for example are taking up to 23 Weeks to settle claims which is obviously unacceptable.

Well done Santander.

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