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PPI News – Co-op Bank takes £69 million PPI hit

Co-op Bank takes £69 million PPI hit

A £60 million PPI hit has dragged the Co-operative Bank deeper into the red with a £118.6 million loss for the three months to September this year.

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Calls for ban on P2P non-advised sales increased

Calls for ban on P2P non-advised sales increased

There are increasing calls for the UK’s financial regulator to ban peer to peer (P2P) non-advised sales as another firm goes bust.

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PPI News – Shop Direct needs £150m cash injection for PPI

Shop Direct needs £150m cash injection for PPI

Auditors of Shop Direct have warned that the firm could collapse unless it gets a cash injection of £150 million to cover its PPI compensation.

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PPI NEWS – OCTOBER 2019

PPI NEWS – OCTOBER 2019

PPI nightmare October turned into a PPI nightmare according to one financial analyst as bank after bank announced they were adding massive amounts of money to their PPI compensation pots as the magnitude of the last minute pre-deadline surge of claims became clear. First off the mark was Tesco Bank, not one of the high […]

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Frequency of bank IT crashes ‘unacceptable’

Frequency of bank IT crashes ‘unacceptable’

A powerful Commons committee has condemned the frequency of UK bank IT crashes as ‘unacceptable’.

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PPI News – GB’s Top 20 payouts for October

GB’s Top 20 payouts for October

Two months after the PPI claims deadline the Gladstone Brooks Top 20 successful claims totalled more than £611,000 with the top payout of £68,896 going to a Gloucestershire woman for six successful claims against HSBC.

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PPI News – GB’s Top 20 payouts for October

GB’s Top 20 payouts for October

Two months after the PPI claims deadline the Gladstone Brooks Top 20 successful claims totalled more than £611,000 with the top payout of £68,896 going to a Gloucestershire woman for six successful claims against HSBC.

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PPI News – Lloyds profits hit by £1.8 billion PPI hike

Lloyds profits hit by £1.8 billion PPI hike

Lloyds Banking Group (LBG) has confirmed it is adding another £1.8 billion to its PPI compensation pot knocking its pre-tax profits down to £50 million for the third quarter of the year – 97% down on the same period last year.

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PPI News – Santander adds another £99 million for PPI

Santander adds another £99 million for PPI

Santander has become the latest high street bank to boost its PPI provision since the claims deadline on August 29th.

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PPI News – RBS confirms £900 million more for PPI

RBS confirms £900 million more for PPI

Royal Bank Of Scotland (RBS) has confirmed it has added another £900 million to pay future successful PPI claims, contributing to an £8 million operating loss before tax for the third quarter of the year.

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