Related provisions for DISP App 3.2.5
1 - 5 of 5 items.
3At step 2, the aspects of complaint handling dealt with in this appendix are how a CCA lender should:(1) assess a complaint to establish whether failure to disclose commission gave rise to an unfair relationship under section 140A of the CCA; and(2) determine the appropriate redress (if any) to offer to a complainant.
In this appendix:(1) (a) at step 1,3 “historic interest” means the interest the complainant paid to the firm because a payment protection contract was added to a loan or credit product;3(b) at step 2, “historic interest” means in relation to any sum, the interest the complainant paid as a result of that sum being included in the loan or credit product;32(2) "simple interest" means a non-compound rate of 8% per annum;3(3) "claim" means a claim by a complainant seeking to rely upon
The firm (or, where applicable, a successor) must as soon as reasonably practicable, and no later than 29 November 2017, send a written communication to the complainant which:(1) informs the complainant that, despite having already made a complaint in relation to the sale of a payment protection contract, they can make a further complaint against the CCA lender in relation to a failure to disclose commission;(2) makes clear the identity of the CCA lender, where this is known to
The obligation to send a written communication does not apply where, in relation to the relevant payment protection contract the firm, or where appropriate the Financial Ombudsman Service, has previously considered, or indicated to the complainant in writing that it will consider, a complaint on the basis of a failure to disclose profit share and/or commission.