Three of Britain’s top banks are involved in a £1.3 billion settlement of the FOREX rigging scandal.
Blog Category: News
The troubled Clydesdale/Yorkshire Bank has been given another £420 million by its Australian parent company to pay future successful PPI claims.
National Australia Bank (NAB) which owns the two British banks has also made a further £80 million available to pay compensation for mis-sold interest rate hedging products.Read More
Angry consumer groups are demanding that the UK financial regulator does not cave in to pressure from the banks to impose a deadline on future PPI claims.
Martin Lewis of moneysayingexpert.com and Richard Lloyd of Which? have written a joint letter to Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), with a last ditch plea to prevent the deadline being agreed.Read More
Borrowers are being warned to fix their mortgage rates as soon as possible as Britain’s top lenders start to drop their best low rate deals ahead of the expected rise in interest rates.
Barclays, Santander and Yorkshire Building Society have all increased their rates and pulled cheap deals which will add hundreds of pounds to the cost of new loans.Read More
Former NHS project manager Froach MacLean took four years to decide whether or not she would try to make a claim for PPI because she wasn’t sure whether it had been attached to any of her agreements.
“I was undecided whether or not to do it,” she said. “Then I saw the Gladstone Brookes advert on the TV and decided to go for it.Read More
Gladstone Brookes charity of the month for July was the Warrington Disability Partnership – a local charity which actively promotes independent living for anyone with disabilities.
They are a voluntary organisation, run predominantly by disabled people, which also assists service providers by advising on providing the best quality service for disabled people and their families. They offer access audits and awareness training, plus a range of other services tailored to the needs of the organisation involved.Read More
The government has started its re-privatisation of Royal Bank Of Scotland (RBS) by selling off 600 million shares to institutional investors at a loss of £1 billion.
The Treasury waited for the Stock Market to close yesterday before offering the shares at 330p each – a discount of 7.6p on the market’s closing price.Read More
Virgin Money boss, Jayne-Anne Gadhia says the next chief executive of UK’s financial regulator should introduce a deadline on future PPI claims and let the banking sector go back to growing.
Martin Wheatley was recently ousted as chief executive of the Financial Conduct Authority (FCA) by Chancellor George Osborne. Now Ms Gadhia wants to bring an end to the multi-million £ fines and multi-billion compensation costs for mis-sold PPI.Read More
Teacher Emma Tibbitts came to Gladstone Brookes with her PPI claim because she was recommended by a friend who had had a successful claim and suggested she try it herself.
“I wasn’t even sure whether or not I had PPI, but I thought it was worth giving it a try. After an initial phone call they sent through some very easy forms to fill in,” she said.Read More
HSBC has announced an additional £58 million to its PPI provision ‘reflecting higher than expected levels of inbound complaints.’
Their half year report adds that they expect a further 300,000 complaints in future, but that figure did not include potential new claims generated by the Plevin case of 2014.Read More