Tag Archives: FOS
Latest HSBC PPI payout takes their bill to over £787 million
HSBC, the last of the high street banks to publish their quarterly figures, paid £72.7 million in redress for mis-sold PPI in the first three months of the year, taking their total bill to over £787 million. But it remains a fraction of the amounts paid out by the Lloyds Banking Group and Barclays who [...]
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 [...]
BBA denies banks are deliberately turning down legitimate claims
The British Bankers’ Association have denied media reports that banks are deliberately turning down legitimate PPI claims in the hope that they would avoid having to pay up. In a Daily Telegraph report, a spokesman from the Financial Ombudsman Service (FOS) says: “If claims were resolved in the first instance it would be better for [...]
FCA figures show Lloyds ‘most complained about bank’
Figures released by the new regulator the Financial Conduct Authority (FCA) show Lloyds Banking Group – comprising Lloyds TSB and Halifax Bank Of Scotland – received more complaints than any of its rivals in the second half of 2012. The FCA, which took over from the Financial Services Authority as the City watchdog in April, [...]
Banks under fire for delaying PPI claims
Britain’s banks have come under fire yet again for delays in giving decisions on PPI claims with a highly critical story in the Daily Star national newspaper. The paper claims “Grasping bankers are making payment protection insurance victims wait for years to get their compensation.”
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