Member Info for Patiencemyfriend

T s judgement day !!

Lets see the future in headlines…

Millions of motorists to get compensation…

Banks to increase provisions

Banks to take FCA to judicial review

Motorists face delay after courts pause motor finance claims pending Judicial review

FCA forced to reduce its motor finance scheme following Judicial review

Close brothers restores dividends

Close brothers returns to profit after FCA fiasco finally over

Zoooooom out and hold tight guys

Today marks the final worst case scenario for CBG

Good point JP. If only the fca could see this

If lloyds faces 30k claims then cbg cmc claims number would mt be huge and then could be dealt with using sc judgement

Bolsters Jr for the banks as if the banks accept the fca deal nothing has changed and they will end up paying both fca and cmc claims. Back to court then… again !!

If the known redress is manageable by the banks but they still choose jr then great. If the known is more than provisions ….

Funding the housing market is mire concerning but cbg knows what it s doing. It will be nice to see them get back to doing what they do. It blows my stack that the govt are allowing such a ridiculous attack on institutions that are funding devopment. What are they doing !

Even at .50 thats 71137 per yr in divis when they return

Nic. Whoever hoovered up nearly half a mill in shares on Friday clearly thinks otherwise

I get the claw now ! The fos sided with the lender for rules the lender followed but now Rathi u turn says those rules are no longer valid l, but the Fca were happy with at the time ! You could nt write it ! Well Rathi could errr re write it …

I m with knot… once the scheme is released …that provides a final worse case ceiling for the banks…if it is too high the banks have nothing to loose in pursuing jr.. final calcs can be made and business as usual.. any reduction is then just a bonus.. they can hang on to cash reducing tax and accruing interest for as long as the judicial system delays it… no brainer.. a few million in legal fees between them all to the fla is peanuts

As of March 2026 the scheme is not yet finalised or in full operation (the FCA is still considering 1,000+ consultation responses and planning an implementation period), but complaints handling pauses are due to lift from 31 May 2026, and the streamlined scheme approach described above is the one being progressed. Individual court or FOS claims would follow the judgment more closely, but the FCA’s mass redress scheme does not.

The last line says it all !

Alignment with Johnson and case law

The scheme is deliberately built around the Supreme Court’s Johnson judgment [2025] UKSC 33, not in opposition to it:

• It uses objective criteria for “relevant arrangements” (DCAs, high commissions ≥35% of total cost of credit/10% of loan, or undisclosed ties).

• “Johnson redress” (full commission + interest) applies only to the narrow category of cases mirroring Mr Johnson’s facts.

• Other cases use a standardised average-loss or commission-based remedy, reflecting the Court’s emphasis on fact-sensitive unfair relationships under s.140A Consumer Credit Act 1974.

I fid nt know the fca had set different redress for johnson and all other cases ?

Why the scheme cannot reverse court decisions

The proposed s.404 FSMA redress scheme (CP25/27, October 2025) is a regulatory mechanism, not a judicial one. It cannot override or reopen final court judgments. UK law protects the finality of court decisions through the doctrines of res judicata and issue estoppel: once a court has decided a claim on its merits, the same parties cannot relitigate it.

The FCA explicitly respects this:

• The scheme excludes any consumer who “had a case decided by the Court, prior to the scheme effective date, that related to the subject matter of the scheme, regardless of the outcome” (CP25/27, para 4.40).

• This applies whether the consumer won or lost in court.

• Consumers who accepted a full-and-final settlement of a prior complaint or claim are also excluded.

What about FOS decisions or firm-rejected complaints?

Different rules apply here:

• If a consumer lost at the FOS but did not accept any redress offer, they can still participate in the scheme (FOS decisions are not legally binding in the same way as court judgments).

• Consumers who complained to their lender/broker and had the complaint rejected (the vast majority — over 99% pre-scheme) are included and will be contacted by the lender.

• Live FOS complaints are handled by the FOS, not the scheme (unless all parties agree otherwise).

So the scheme does provide redress to many consumers who previously “lost” at firm or FOS level — but not to those with prior court judgments.

Are these cases that the fos have won ?

I know obvs just woke up !! Also will be nice if the FLA have a statement re JR ready for the weekend the scheme is released

One thing that has come to mind…if the final scheme is the same or less liabilty for banks than that propsed in Oct then Cbg (and others) need not increase their provisions… if they do, this will fall in to the hands of Viceroy….

Well that was a drama filled day !! Time for a San Miguel Cheers everyone !

Is this not a re run of last year - If I remember the sp dipped to 2.90 ish on the half yr results (might have been year before) but the same principle.. the results are never going to be good with 300mill provision - once that is settled the co is back to profit. The sp was 3.90 with the possibilty of full on armageddon possible pre supreme court.

Anyone fancy a business start up writing critical reports - what a screw that is.. !! All we have to do is make it just short of defamatory and we re millions in.

As I said war plus same inane half yr (automatic in theory loss) plus unchanged redress or worse 350 or

Less…. Then hopefully appeal

To jr