Category Archives: PPI
Make your claim before the money runs out
Lloyds Banking Group (LBG) have announced a big jump in pre-tax profits for the first three months of this year, but made no additional provision for compensation payments to people who have been mis-sold PPI. The group – 39% owned by the taxpayer – says pre-tax profits are up to £2.04 billion as compared to [...]
RBS increases Swaps redress
The Royal Bank of Scotland has had it pretty tough the last few years. After it’s near collapse during the credit crunch, during which it became almost wholly owned by taxpayers, the lender was faced with an uphill struggle of regaining consumer trust. Of course that struggle got even more difficult when the Payment Protection [...]
Staggering total cost of PPI compensation …. so far
The announcement that Lloyds Banking Group has increased its PPI compensation bill by a further £1.5 billion with another £1.1 billion being earmarked by the Royal Bank Of Scotland means the overall PPI bill for the country has risen to £15 billion – more than the economies of 66 of the world’s nations. The banks [...]
Why banks are set to drop calls for PPI deadline
With the Payment Protection Insurance (PPI) mis-selling scandal showing no sign of easing up and the amount of money banks have had to set aside for compensation constantly growing, it was no surprise that lenders, panicked by how much they were paying out, began calling for a deadline for claims. The banks claimed there had [...]
Are packaged accounts set to become the new mis-selling scandal?
As the nation continues to get to grips with the Payment Protection Insurance (PPI) mis-selling crisis it seems another scandal may be on the horizon. With the Financial Services Authority implementing new rules regarding packaged account this March, industry commentators are predicting these accounts will be the next big mis-selling scandal. But what are they? [...]
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