Half a million cheated out of PPI compensation by FOS?

Half a million lost out?

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

PPI payouts edge closer to £30 billion

ew FCA figures

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 UK banks hit with new LIBOR allegations

Three UK banks hit with new LIBOR allegations

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

FOS expect record PPI appeals next year

FOS expect record PPI appeals next year

Britain’s Financial Ombudsman Service (FOS) is making plans to deal with a record number of PPI claims next year as a direct result of the proposed PPI deadline.

But until the Financial Conduct Authority (FCA) announces the deadline date FOS say they have no idea exactly how many claims they expect to have to deal with.Read More

Banks still unfairly rejecting half of PPI complaints

Banks still unfairly rejecting half of PPI complaints

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

Delay in PPI deadline could cost banks another £1 billion

Another £1 billion for PPI?

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

The Great PPI Scandal

Billions already paid

Sometimes it can seem PPI has been with us for the last hundred years.

Hundreds of thousands …. millions of words have been written about it and the rogue trading of the cold callers who have blighted our lives have turned it into a dirty word.Read More

PPI payouts jump by more than £100 million in a month

PPI payouts jump by mofe than £100 million in a sigle month

New figures released by the Financial Conduct Authority (FCA) show that PPI payouts for successful claims have jumped by more than £100 million in a single month.

In February consumers received £423.9 million in compensation – £112.1 million more than was paid out in January.Read More

PPI claims rise as deadline date looms

PPI complaints 6% up

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