PPI
Britain : banks set aside £10 billion for client compensation
British banks have ramped up the amount of cash they are setting aside to compensate clients who were mis-sold insurance policies to more than...
Barclays : takes extra £700-mn hit from insurance mis-sell
Barclays said it was setting aside a further £700 million ($1.13 billion, 862 million euros) to compensate clients mis-sold insurance by the embattled British...
Charter UK : Why is the Ministry of Justice not being clear about claims management companies?
Paul Clark CEO of Charter UK, a provider of enterprise complaint and feedback management software working closely with the banks comments on the fact...
RBS : announces annual net loss of almost £2 billion
State-rescued Royal Bank of Scotland on Thursday said its net losses widened to almost £2.0 billion in 2011, hit by the Greek debt crisis...
PPI remediation guideline “impossible”, warns Charter
The PPI remediation guidelines that have been issued by the FSA will be impossible for UK insurers and other financial institutions to achieve without...
FOS introduced increased fees for mis-selling insurance
UK banks and insurers are mis-selling payment protection insurance (PPI) resulting in millions of dollars used to compensate victims – but it's about to...
FSA / OFT : draft guidance on payment protection products published
The Financial Services Authority (FSA) and the Office of Fair Trading (OFT) have joined forces to help prevent the problems associated with payment protection...
HSBC : fails to meet PPI complaint deadline
Banking giant HSBC confirmed yesterday that it was going to miss the Financial Services Authority’s (FSA) deadline of 31 August, for dealing with complaints...
FSA / PPI : UK companies paid out an estimated GBP 215 in PPI compensation
The UK companies that have mis-sold payment protection insurance have paid out an estimated GBP 215 million during the first half of the year...
Lloyds Banking Group slumps to heavy loss
Britain's state-rescued Lloyds Banking Group reported a first-half net loss of £2.3 billion (2.6 billion euros, $3.8 billion) after being forced to compensate clients...
FSA : temporary extension for some PPI complaints granted
The Financial Services Authority (FSA) today agreed to temporary arrangements for Barclays, Lloyds Banking Group and RBS to handle Payment Protection Insurance (PPI) complaints....
Which? : acknowledges Barclay’s lead on PPI mis-sellings
Barclays announces that custommers who have been mis-sold Payment Protection Insurance will be compensated on a “no questions asked” basis. Peter Vicary-Smith, Which? Chief...
Which? : launches new online tool for PPI claimants
Consumers could lose out on over £2bn in Payment Protection Insurance (PPI) redress by going to claims management companies (CMCs).
With an average payout...
Lloyds leave battle to appeal PPI decison
The somewhat surprising move by Lloyds Banking Group to pull out of the banks' appeal to overturn the High Court ruling on the mis-selling...
Which? : PPI complaints surge shows widespread mis-selling
As the Financial Services Authority (FSA) publishes the latest round of complaints data on individual financial businesses for the last six months in 2010,...
Financial ombudsman consults on its plans and budget for the year ahead
The Financial Ombudsman Service today publishes for public consultation its proposed budget for the next financial year (2011/2012) – together with an update on...
Featured /PPI : CC confirms point-of-sale prohibition
The Competition Commission (CC) has confirmed that it will introduce a remedies package based around a point-of-sale prohibition for all forms of payment protection...
FSCS has paid out £204m in compensation for 2009/10
The Financial Services Compensation Scheme’s (FSCS) annual report and accounts for 2009/10 has revealed that more than £204m has been paid out...
Nearly 1.5 million homeowners are putting their homes at risk with inadequate cover
Nearly 1.5 million homeowners are putting their homes at risk with inadequate cover according to a new survey by Britain's number one comparison site,...
Barclays set to learn payment protection insurance (PPI) decision
Barclays is due to find out if it has been successful in its bid to lift a future ban on the sale of controversial...
