Who tops the £32.2 billion PPI leaderboard?

The figures surrounding what is probably the biggest ever financial scandal ever to hit the UK are truly mind-boggling.

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Millions in danger of missing PPI deadline

Millions in danger of missing PPI deadline

Millions of consumers across Britain are in increasing danger of missing the PPI claims deadline and losing the chance to find out if they are owed.

The banks have set aside billions of pounds to compensate customers who were mis-sold PPI, yet many consumers still haven’t checked if they have it.

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An extra £350 million for PPI puts CYBG in the red

PPI puts CY BG in the red

CYBG – the former Clydesdale-Yorkshire Bank – has slipped £95 million into the red after announcing a £350 million increased provision for mis-sold PPI.

The new facility brings the total the bank has set aside so far to £2.49 billion.  They have received 420,000 PPI claims up to March 31st and the new cash is expected to cover 110,000 new claims before the claims deadline of August 29th next year.Read More

FOS appeals decided by computer, not a human

Shocking documents have come to light revealing that the Financial Ombudsman Service (FOS) uses computers rather than humans to decide on appeals for rejected PPI claims.

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Lloyds adds another £90 million for PPI

Lloyds Banking Group (LBG) has added another £90 million to its PPI provision as the number of new PPI claims continues to rise.

The latest increase comes on top of more than £18 billion it has set aside to pay successful claims since January 2011 – more than half of the overall total paid out by the finance sector so far.Read More

PPI payouts hit £30 billion and complaints hits four year high

The total amount paid in PPI compensation has broken the £30 billion barrier and the number of PPI claims has rocketed to a four year high.

The Financial Conduct Authority (FCA) has revealed the level of PPI claims has soared by 40% since the Arnie Schwarzenegger adverts urging consumers to ‘Do It Now!’ started bringing the forthcoming PPI claims deadline to public notice.Read More

CYBG sets aside another £350 million for PPI

CYBG – the former Clydesdale and Yorkshire Bank – says it has just set aside another £350 million to handle tens of thousands of unexpected PPI claims.

The banking group revealed the increase after claims surged by 59,000 in the six months to March 31st.  It also said it expected another 110,000 before the PPI claims deadline on August 29th next year.Read More

Arnie’s back in new FCA ad warning about the PPI deadline

Arnie’s back in new FCA ad warning about the PPI deadline

Terminator Arnie Schwarzenegger is back with a new warning about the PPI claims deadline.

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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

Should the PPI deadline be extended?

There are calls for the PPI claims deadline of August 2019 to be extended after a survey of more than 2,000 people revealed that half of them didn’t even know the deadline existed.

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