Royal Bank of Scotland (RBS) is to add between £600 million and £900 million to its PPI pot because it fears it won’t have enough to pay out all of the successful claims against it.
Blog Category: News
Lloyds Banking Group (LBG) and Barclays have both announced they may have to add over £1.5 billion extra to their PPI provision to make sure they can pay out on a massive spike of complaints leading up to the claims deadline.
Britain’s financial regulator is worried that a new recession could provoke another PPI-type scandal with the banks feeling pressure on their main sources of income.
In the run-up to the deadline we continued to recover hundreds of thousands of pounds for our clients with the Top 20 payments totalling a massive £703,360.22.
Britain’s banks were swamped by millions of last minute PPI claims before the deadline ran out at midnight on August 29th.
Well, that’s it! The PPI saga is over and done with as the much heralded deadline passes into history.
Are you sitting on a stash of old fivers and tenners? If so, the Bank Of England would like them back.
British economists are starting to voice concerns about what will happen when the PPI money runs out.
As tens of thousands of consumers rush to beat the PPI deadline, a new report claims the true cost of the scandal has already hit £48.5 billion and is continuing to grow.
Almost 1 in 5 Brits who admitted to a new survey that they haven’t yet made a claim for possible mis-sold PPI have been urged to ‘Do It Now!’ before it’s too late by the country’s financial regulator.