An undercover operation by the Channel 4 “Dispatches” programme claims to have uncovered evidence that up to half a million people may have been cheated of a PPI payout by the Financial Ombudsman Service (FOS)
The shock allegation was aired in a special programme aired on March 12th and claimed some staff were so poorly trained they had to Google the name of the financial products they were investigating.Read More
Latest figures released by the Financial Conduct Authority (FCA) shows the amount paid by Britain’s banks fore mis-sold PPI is now £29.6 billion.
PPI claims compensation has become one of the biggest financial scandals ever seen in the UK and pressure is growing from some commentators for the regulator to put back the claims deadline scheduled for August next year.Read More
Three of Britain’s biggest banks have been hit by what is potentially the biggest LIBOR lawsuit to date by the US government.
The Federal Deposit Insurance Corporation (FDIC) has alleged that Lloyds Banking Group (LBG), Barclays and Royal Bank Of Scotland (RBS) played a part in the collapse of 39 US banks worth more than $400 billion.Read More
Britain’s banks are still unfairly rejecting more than half of the complaints they receive about mis-sold PPI according to new figures from the Financial Ombudsman Service (FOS).
In their latest quarterly report, covering July to September 2016, FOS say 57% of the 43,000 new complaints were upheld in favour of the consumers whose original claims had been rejected by the banks.Read More
A two year review into British retail banking has been condemned as a missed golden opportunity by its critics.
The final report by the Competition and Markets Authority (CMA) makes several recommendations to improve competition among Britain’s retail banks, but it’s critics say it has not gone far enough.Read More
Experts are predicting a 12 month delay in the start of the PPI claims deadline could cost the UK banking industry another £1 billion.
Journalists and financial experts are speculating that the delay could further increase the already staggering amount of £34.13 billion set aside to pay for successful claims for mis-sold PPI policies.Read More
Complaints about mis-sold PPI rose by 6% in the second half of last year as the Financial Conduct Authority (FCA) announced it is considering imposing a claims deadline.
New figures released by the regulator show there were 932,000 complaints in last six months of the year – almost half of all complaints about UK banks.Read More
You can do the claim directly yourself to the lender for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, if you have approached your lender first, and it falls within their remit.