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.
Blog Category: Banking
Nationwide has been ordered to pay £2 million in refunds to more than 7,000 of its members for breaches of PPI rules.
Britain’s banks were hit by more than 10,000 new PPI claims a day in the first six months of the year, according to new figures released by the Financial Conduct Authority (FCA).
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.
Tesco Bank has become the latest lender to boost its PPI provision after the claims deadline passed.
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.