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November 7, 2015 
Daniel Lee More than 1,000 complaints a day about mis-sold payment protection insurance (PPI) continue to be sent to the Financial Ombudsman Service despite a steep drop in numbers in the second half of 2013 compared with earlier in the year. The ombudsman said the most complained-about financial institution in the second half of 2013 was Lloyds […]
November 7, 2015 Daniel Lee It is not over – Lloyds Banking group have set aside a further £750 Million to compensate PPI mis-selling in what has been the biggest mis-selling scandal of all time. UK banks have in total set aside over £17 billion pounds to compensate customers who were mis-sold payment protection insurance (PPI). Of the […]
November 7, 2015 Daniel Lee The Co-operative bank has increased its provision by a further £105 million to compensate customers who were mis-sold payment protection insurance (PPI) and various other products. The provision will cover ‘’future costs for PPI redress, arrears charges and the processing of certain mortgage interest ‘first payments”’. This matter arose as The Co-Operative Group this […]
November 7, 2015 Daniel Lee The latest figures from the Financial Conduct Authority (FCA) show the current cost paid out to customers in relation to mis -selling payment protection insurance has hit £12 BILLION. (Source – Financial Conduct Authority) The PPI mis-selling scandal showed no signs of decreasing in the first half of 2013 which drove complaints to […]
November 7, 2015 Daniel Lee Clydesdale Bank has become the latest victim accused of cutting its compensation bill for Payment Protection Insurance (PPI) by destroying customer details. The concerns brought forward by HUNDREDS of potential claimants say their claims were dismissed as the bank was unable to provide account records dating back more than seven years. Clydesdale says it […]
November 7, 2015 Daniel Lee The Financial Ombudsman Service revealed a record high of 327,035 complaints for the first half of 2013. The latest report shows that 266,228, 86% of all new complaints made were regarding mis-sold PPI (Payment Protection Insurance). The four big banks account for over £15bn of the total £17.9bn provision set aside for PPI mis-selling […]
