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Barclays add another £600 million to PPI pot

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.

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Did the government and banks exert pressure on the FCA over mis-selling?

A BBC investigation claims the government and banks have both exerted pressure on the UK’s financial regulator to sidestep millions of pounds of compensation for mis-sold interest rate hedging products. The Newsnight programme says it believes that the Treasury tried to put pressure on the Financial Conduct Authority (FCA) over concerns about how much the […]

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Government forced to stop selling Lloyds shares?

Experts believe the government could be forced to stop selling Lloyds shares to make sure there are enough for the Chancellor’s promised sale to the general public. The trickle selling of shares to the institutions overseen by UK Financial Institutions has been so successful there is a danger the government will run out of shares […]

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Cash Genie to pay £20 million compensation to customers

Payday lender Cash Genie is facing a £20 million bill for compensation after the UK regulator found ‘serious failings’ in the way they did their business. The Financial Conduct Authority (FCA) listed a number of examples of ‘poor practice’ after the company reported themselves to the regulator and stopped offering new payday loans in September […]

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Banks to set aside another £2 billion for PPI?

City analysts are predicting that three of Britain’s top banks are about to set aside a further £2 billion to pay for PPI claims, fines and legal costs. Barclays, Lloyds and Royal Bank Of Scotland (RBS) will all announce their half year figures this week and all of them are expected to reveal substantial amounts […]

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Is now the time to fix your mortgage rate?

Is now the time to fix your mortgage rate while base rate remains at its record low level? The Bank Of England’s Monetary Policy Committee has just voted to keep the rate at 0.5% – a level it has now held for more than six years. But there are increasing signs it can’t go on […]

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SUCCESS STORY – It’s a life-changing sum of money!

Derek Graham first sought Gladstone Brookes’ help in claiming back mis-sold PPI in 2011 and had two successful claims against credit cards with £2,381± recovered from Lloyds and £1,168.33± from Citifinancial. “I decided to make a claim when I saw the advert on the TV because, like many people, I’d taken out a number of […]

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Will renting overtake home ownership for the young?

Accountancy firm PwC predict more than half of Britain’s under 40s will be renting homes from private landlords in 10 years time. It also predicts house prices will continue to rise at 5% a year, pricing the average home at £360,000 by 2020.

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MPs will investigate delays into HBOS report

MPs from the Commons Treasury Select Committee (TSC) are set to investigate the continuing delays into the publishing of the report on the £20.5 billion collapse of Halifax/Bank Of Scotland (HBOS) seven years ago. The report was commissioned in 2012, but has been repeatedly delayed.

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FOS says 74% of PPI claims unfairly rejected

New quarterly figures issued by the Financial Ombudsman Service (FOS) show that 74% of the claims resolved between April and June had been unfairly rejected. The new figures show that FOS received 62,105 complaints about PPI in the three month period, resulting in 49,377 new claims – a rate of 3,700 a week.  PPI claims […]

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