Royal Bank Of Scotland (RBS), NatWest and Ulster Bank have announced they are going to cancel thousands of customers’ PPI policies at the end of the year.
Blog Category: News
Tesco Bank has become the latest lender to boost its PPI provision after the claims deadline passed.
Studio Retail has become the latest organisation to boost its PPI provision after a surge of claims leading up to the PPI deadline in August.
The day after Royal Bank of Scotland (RBS) announced it was adding £900 million to its PPI compensation pot, Barclays confirmed it has added £1.4 billion to its own redress fund.
HSBC has become the third of the big four UK banks to add millions of pounds to its PPI compensation pot AFTER the claims deadline in August.
Online retailer Shop Direct has shocked its investors with a higher than normal penalty for PPI mis-selling, leading to a huge widening of losses.
Clydesdale Yorkshire Bank (CYBG) has announced 330 redundancies as a direct result of its £1.7 billion merger with Virgin Money last year.
Official figures show that the amount of compensation paid to successful PPI claimants has jumped by almost £100 million in a single month.
The total cost of the PPI mis-selling scandal has been revised upward to £53 billion after another bank said it would need to add millions more to its PPI pot to pay out future successful claims.