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


Thousands ‘treated unfairly’ over packaged bank accounts

Thousands ‘treated unfairly’ over packaged bank accounts

A shock report by the UK financial regulator says thousands of people have had claims for mis-selling packaged bank accounts wrongly rejected or received too little compensation from their bank.

The report follows a thematic review on packaged bank accounts by the Financial Conduct Authority (FCA) which found 56% of those who complained received ‘an unfair outcome.’Read More


SUCCESS STORY – Your persistence paid off

SUCCESS STORY – Your persistence paid off

Keith Deeley knew he had PPI attached to finance loan agreements with Lloyds from the past because he remembered the circumstances.

“We were led to believe we had to have it if we were going to get the loans,” he said. “Some of the agreements were over 20 years ago, but I remember the circumstances.”Read More


FOS still receiving 3,000 PPI complaints a week

FOS still get 3,000 PPI claims a week

Almost a decade after the PPI scandal first became public, the Financial Ombudsman Service (FOS) are still receiving more than 3,000 PPI complaints a week from consumers who believe their claim has been unfairly rejected.

Figures just released by FOS show they received 91,381 complaints in the first half of 2016, more than half of the total number of complaints received relating to banks, insurers and other types of financial business.

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FOS warns on scammers in £6 million sting

FOS warn on scams

The Financial Ombudsman Service (FOS) has warned that scammers and con-men have ripped off £6 million from UK consumers in just three months.

The total bill for the last 12 months was £775 million.Read More


SUCCESS STORY – £42,332.59± payout on a Debenhams store card

linda-cook

When Linda Cook was out shopping in Debenhams in the summer of 1985 she was persuaded to take out one of their store cards by the assistant on the till.

Said Linda: “I was sold it on the benefits and discounts I would receive as a store card holder and nothing was mentioned about PPI.Read More


SUCCESS STORY – FOS success brings total PPI payout to £11,670.62±

ian-jefford

Like thousands of other people Ian Jefford had no idea whether or not he had PPI attached to any of the loans he had taken out with Lloyds in the past.

“I had no proper paperwork,” he said, “but when I saw the TV advert I thought I’d give it a go on their no win no fee terms.”Read More


FOS still getting 4,000 PPI complaints a week

FOS still getting 4,000 PPI complaints a week

Five years after the PPI complaints scandal exploded, the Financial Ombudsman Service (FOS) are still receiving more than 4,000 claims a week.

Their latest half yearly figures show that 69% of the cases referred to them have been unfairly rejected by the banks and in some cases that figure is over 90% (94% CYBG and 91% Lloyds).Read More


FCA scam alert for over 55s

Scam alert for over 55s

Britain’s financial regulator has issued a scam alert for potential investors – especially the over 55s with access to thousands of pounds from their pension funds.

The Financial Conduct Authority ScamSmart scheme believes the over 55s face a ‘heightened risk’ of falling prey to scams designed to separate them from their life savings.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