The Financial Ombudsman Service (FOS) has admitted it ‘failed to get to grips’ with almost one in ten of the cases it dealt with in 2018.
Blog Category: mis-sold PPI
CYBG – the parent company of Clydesdale and Yorkshire Banks – is still receiving around 1,800 new PPI claims a week.
Around 150,000 consumers whose PPI claims were previously rejected are to have their cases re-opened because of a tightening of the rules governing investigation.
With just months to go before the PPI claims deadline in August, Santander has revealed that it has £246 million remaining in its contingency fund to pay future successful claims.
The total payout for mis-sold PPI is heading for £34 billion, just months before the PPI claims deadline in August.
PPI compensation breaks the £33 billion barrier
The total amount of compensation paid for the mis-selling of PPI by Britain’s financial industry has broken the £33 billion barrier.
Britain’s ‘bad bank’ has set aside another £44.1 million to pay out future successful PPI claims.
Payouts continue to rise
Latest PPI figures released by the Financial Conduct Authority (FCA) revealed that lenders have paid £32.9 billion between January 2011 and September of this year.