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PPI News – Shop Direct’s surprise £241 million PPI provision

Shop Direct’s surprise £241 million PPI provision

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.

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CHARITY OF THE MONTH – Warrington YFC

CHARITY OF THE MONTH – Warrington YFC

Our charity of the month for August was Warrington YFC – a small local charity which gets involved in lots of events in and around Warrington.

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CYBG announces 330 job losses

CYBG announces 330 job losses

Clydesdale Yorkshire Bank (CYBG) has announced 330 redundancies as a direct result of its £1.7 billion merger with Virgin Money last year.

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PPI payouts jump by almost £100 million in a month

PPI payouts jump by almost £100 million in a month

Official figures show that the amount of compensation paid to successful PPI claimants has jumped by almost £100 million in a single month.

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PPI total cost revised upwards to £53 billion

PPI total cost revised upwards to £53 billion

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.

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Are we slipping into recession?

Are we slipping into recession?

Just as we seem to be fully recovering from the depths of the recession brought on by the 2008 financial crisis, economists say they’re picking up warning signs that we might be slipping into another. In the week that Chancellor of The Exchequer Sajid Javid pronounced the end of austerity, a new report called the […]

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PPI – The Beginning of the End?

PPI – the beginning of the end

Well, that’s it! The PPI saga is over and done with as the much-heralded deadline passes into history. But is it really over? Not over for some months yet No – it won’t be over for some months yet while the banks catch up on the millions of last minute complaints which flooded in with […]

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PPI payouts jump by almost £100 million in a month

PPI payouts jump by almost £100 million in a month

Official figures show that the amount of compensation paid to successful PPI claimants has jumped by almost £100 million in a single month.

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PPI News – FOS redundancies on hold after PPI surge

FOS redundancies on hold after PPI surge

The Financial Ombudsman Service (FOS) has announced it is suspending the streamlining of its work force for six months because of the surge of PPI complaints before the deadline in August.

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PPI News – How did the banks get their PPI sums so wrong?

How did the banks get their PPI sums so wrong?

As banks add more than £4.9 billion to their PPI compensation pots AFTER the claims deadline, commentators are beginning to ask how they could have got their sums so wrong.

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