Blog Category: PPI
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
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
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
Lloyds Banking Group (LBG) have raised their PPI payout pot by a further £1.4 billion, increasing their overall provision to £13.4 billion.
Chief Financial Officer, George Culmer, revealed in the bank’s half yearly figures that £2.2 billion of the figure remains unused. It is intended to cover future successful claims and the cost of the Past Business Review Lloyds have had to carry out on 1.4 million previously rejected or potentially underpaid cases.Read More
Anthony Noble is very happy with the service he received from Gladstone Brookes.
“I’ve told lots of people how good they are after the job they did for me,” he said.Read More
Royal Bank Of Scotland (RBS) has reported a half year loss of £153 million after setting aside still more money for litigation costs.
But the predicted increase in their PPI provision did not materialise. The £459 million being set aside is intended for anticipated penalties by US regulators arising from the mis-selling of mortgage-backed securities in America and interest rate hedging products.Read More
Security officer Stephen Lester nearly didn’t make his claim for mis-sold PPI, but he’s glad he came to Gladstone Brookes to get it sorted out.
Said Stephen: “Last April a good friend told me he’d got some money back, so I decided I was going to do something about it. I wrote to the bank to get the ball rolling. I couldn’t believe the amount of paperwork they sent back. They must have destroyed a rain forest!”Read More
Barclays Bank has added another £600 million to the amount they have set aside to pay future successful PPI claims.
The bank – the first to declare its half year figures for 2015 – has now set aside a total of £6 billion.Read More