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Figures just released by Barclays show that they expect to pay another £900 million in PPI compensation.
9:25 am Barclays
Barclays will not face trial over Qatar deal
The High Court has refused an attempt by the Serious Fraud Office (SFO) to re-instate charges against the bank for alleged unlawful dealings with Qatar at the height of the 2008 financial crisis.
Barclays apologise for PPI claim error
Just days after their chairman claimed Britain’s PPI scandal had turned portions of the country into fraudsters, Barclays have admitted that they wrongly told tens of thousands of customers that they did not have PPI.
Are smartphones taking over the banking business?
The number of consumers using their smartphones to run their bank accounts has soared in recent years.
Together with internet banking, they have been blamed by many of the high street banks for the need to close branches across the country as customers change the way they handle their money.Read More
Barclays is third bank to raise PPI provision
Barclays has become the third UK high street bank to increase its PPI provision within a week.
The announcement of a £400 million increase in the amount of money set aside to pay future successful PPI claims follows the £350 million announced by CYBG (the former Clydesdale and Yorkshire Bank) and the £90 million increase by Lloyds Banking Group (LBG).Read More
Barclays pays $2 billion to settle US mis-selling case
Barclays has agreed a $2 billion settlement over claims it fraudulently sold sub-prime mortgage-backed securities in America in the lead-up to the financial crisis of 2008.
The bank did not admit liability in the case which alleged it had mis-led investors over the quality of the loans backing the securities.Read More
Is FOS solely to blame for PPI backlog?
The Channel 4 Dispatches programme highlighted major problems with the handling of financial appeal cases by the Financial Ombudsman Service (FOS), alleging poorly trained staff making wrong decisions on appeals and favouring the banks above the consumer.
After an undercover reporter infiltrated FOS’s training programme and found some staff had to Google a financial product after being asked to make an appeal judgement on a case.Read More
Have YOU done anything yet?
Six months after Arnie Schwarzenegger urged consumers to ‘Do It Now’ and check if they have ever been mis-sold PPI, the pace of claims has picked up and millions more has been paid out to successful claimants.
The mis-selling of PPI has become one of the biggest financial scandals the UK has ever known with millions of policies being sold to people who didn’t want them, didn’t need them and, in many cases, didn’t even know they had them.Read More
Barclays PPI claims 16% up in 2017
Claims for mis-sold PPI against Barclays Bank soared by 16% in 2017.
Total claims received have now topped 2.1 million – 300,000 up on the previous year – and the bank has paid out a total of £7.6 billion in compensation for successful PPI claims.Read More
Barclays wins first round of £1.1 billion credit card battle
Barclays wins first round of £1.1 billion credit card battle
Barclays Bank has won the first round of a legal battle with an American credit card company which is suing it for £1.1 billion.
The complex case involves a PPI mis-selling style of payment break products and who should be responsible for paying the compensation.Read More