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The Co-operative Bank has been fined £113,000 for failing to handle payment protection insurance (PPI) complaints fairly. The bank had put a ‘significant proportion’ of its 1,629 complaints on hold in 2011 whilst the British Bankers Association’s ultimately unsuccessful High Court challenge to new Financial Services Authority measures was ongoing, the authority said today. This was despite the FSA making it clear to the industry at the start of 2011 that claims could be progressed normally while the judicial review was in progress. The FSA’s review of the complaints put on hold found that 100% of the cases could have been progressed. Tracey McDermott, the FSA’s director of enforcement and financial crime, said: ‘The FSA made it clear that firms must continue to process complaints where possible during the judicial review and we warned that enforcement action could be taken if this was not done. ‘Despite this warning Co-op put in place a policy that was likely to lead to complaints not being dealt with properly during the legal proceedings. ‘While nobody suffered any financial loss, Co-op’s actions meant that a significant number of people had the resolution of their valid complaints delayed for no good reason.’ The BBA’s legal challenge against new complaint-handling measures was dismissed by the High Court in April 2011. The rules were intended to trigger improvements in the way customers were treated when complaining. Between the new measures being introduced and October 2012, £7.5bn was paid out in redress by financial institutions for mis-sold PPI.
The Letterkenny Craft & Design studio, which incorporates the Cathedral Town Artisan Food Fair, has got out of the blocks quicker than anybody has expected.The idea is the brainchild of Anne Marie Bonnar of the well established JBMetal craft. The concept has brought together 60 artists, designers and crafts people to the studio to collectively showcase their work which is being produced here in Donegal.Along with 15 artisan producers, the group has helped to sustain over 75 local artists, designers & producers jobs , giving them a chance to sell their quality designs, produce & crafts directly to the public.The studio is the first of it’s kind in the northwest and is constantly on the hunt for new designers & crafts people.The artisan market is co ordinated with the help of chef Martin Anderson of The Crest Catering company. Under chef Anderson’s expert eye for local food, it is the group’s intention to grow the market to make one of the largest in the northwest.The artisan food market will take place tomorrow (FRI) from 11am until 2pm.The studio is located on the newly named Joe Bonnar Road which is off the Port Road close to the entrance to the LYIT. CRAFTS, CUISINE AND A LOT MORE AT LETTERKENNY’S NEW DESIGN STUDIO was last modified: October 10th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Joe BonnarLetterkenny Craft and Design Studio