Barclays is still only half way through processing the massive spike of PPI complaints received in the run-up to the claim’s deadline in August last year.
3:32 pm Barclays
PPI News – Barclays have £360 million left for PPI
Though Barclays Bank has announced it believes the £360 million it has left in its PPI pot will be enough to pay all future successful claims it has not ruled out having to add more in the future.
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.
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