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FCA hits Clydesdale with record £20.7 million fine for PPI failings

The UK regulator has hit Clydesdale Bank with a record £20.7 million fine for ‘serious failings’ in the way the bank has handled PPI complaints. Those failings included falsifying information on its policies and providing false information to the Financial Ombudsman Service (FOS) about the information it held.

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SUCCESS STORY – “Oh my goodness – I wasn’t even going to do this!”

  Nicola Gilfillan was stunned when she the envelope containing her PPI payout from Lloyds dropped through her letterbox. In fact, she was so stunned that she had to call Gladstone Brookes to make sure the money really was for her.

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Banks to pay even more £billions for PPI

Britain’s banks could still be forced to pay even more £ billions in PPI compensation, according to top analysts, Investec. The stockbroking firm claim Lloyds Banking Group (LBG) could put aside a further £1 billion over the next 18 months after already setting aside 50% of the £24 billion the industry has earmarked to pay […]

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SUCCESS STORY – I could never have done any of this without your help

Vinnie Cullen’s success story… Vinnie Cullen wasn’t sure whether or not he had PPI on his Lloyds credit card and a couple of loans he had, but when he saw the Gladstone Brookes advert on the TV he decided he’d take the plunge and find out. “I just thought I would see what happened and […]

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PPI compensation hits £18.5 billion

The total of PPI compensation paid out since January 2011 has reached £18.5 billion with the biggest monthly payout in over 13 months. Figures just released by the Financial Conduct Authority (FCA) show that Britain’s banks paid out a total of £424.5 million in  January – the highest monthly total since November 2013 when they […]

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Co-op Group return to profit

The Co-op Group has returned to profit, despite the Co-op Bank posting losses of £262.4 million for 2014. The group’s profits rose to £124 million, compared with a loss of £255 million the previous year.

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UK banks lose 60% of their profits in fines and compensation

Britain’s top banks lost 60% of their profits between 2011 and 2014 in fines and pay-outs to their customers claims a new report by top accountancy firm KPMG. The audit report revealed that the banks between them paid out almost £39 billion for mis-sold PPI and interest rate swaps, plus a series of fines levied […]

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SUCCESS STORY – I thought I’d won the lottery!

Pensioner Alice Jones couldn’t believe her eyes when she opened the letter from Gladstone Brookes which told her she would be getting back over £23,000± from Lloyds Bank for mis-sold PPI. “I thought I’d won the lottery,” she said. “It rocked me right back on my heels. I’ve never had money like this before!”

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PPI is ‘the biggest mis-selling issue in the world’ – FOS

The UK PPI scandal has become ‘one of the biggest mis-selling issues in the world’ , says Financial Ombudsman Service (FOS) chief executive, Caroline Wayman. Defying predictions that the scandal would be resolved by now, FOS is still receiving 4,000 new complaints every week – about 80% of its total workload.

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Still much to do says Co-op Bank boss

Still much to do says Co-op Bank boss

by Mike Birkett, 19/06/2018 Still much to do says Co-op Bank boss Co-op Bank chief executive Niall Booker has admitted there is ‘still much to do’ as the bank recovers from the 2013 disaster which nearly put it out of business. The bank came close to collapse in 2013 after a £1.5 billion ‘black hole’ […]

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