Starting gun about to fire for PPI claims rush

Starting gun about to fire for PPI claims rush

As latest figures reveal Britain’s banks have paid out another £260 million for mis-sold PPI and the UK’s top banks add more than £1.6 billion to their payment pot in just one week, the starting gun is about to be fired on the rush to make a claim before the deadline in August 2019.

This month the Financial Conduct Authority (FCA) will pull the trigger on a £42 million consumer awareness advertising campaign designed to ensure anyone who believes they may have a valid claim makes it before the deadline runs out on August 29th 2019.Read More


Don’t give up in the face of rejection

Don’t give up in the face of rejection

Britain’s banks have paid out billions of pounds in compensation for successful PPI claims over the past seven years, but not all claims are successful and the banks have also rejected millions of claims in that time.

It’s impossible to say how many have been rejected over the years, but once a rejection is received it’s important to understand that all is not lost.Read More


FCA sees record number of complaints

FCA sees record number of complaints

Britain’s financial watchdog has reported a record 3.04 million complaints in the second half of 2016.

Claims for mis-sold PPI were still the largest group, accounting for 29% of the overall total.Read More


Lloyds confirms £350 million extra for PPI

Lloyds confirms £350 million extra for PPI

Lloyds Banking Group (LBG) has confirmed it has added another £350 million to its PPI compensation pot when it announced its 2017 first quarter performance figures.

In its review of its financial performance, the bank says the increase was ordered after the Financial Conduct Authority (FCA) pushed back the PPI deadline date to August 29th 2019.Read More


Another £32 million for Santander PPI

Another £32 million for Santander PPI

Santander has become the first of Britain’s high street banks to announce its first quarter financial results and has included an additional £32 million set aside for PPI claims.

The Spanish owned bank reported a 14% increase in profits over the same period last year at €1.87 billion (£1.59 billion).Read More


Those PPI payouts just keep on rolling

Those PPI payouts just keep on rolling

Six years after official figures began to be kept, mis-sold PPI payouts continue to run at an average of more than £1/4 billion a month.

The latest figures issued by the Financial Conduct Authority (FCA) reveal that the 23 firms who make up 95% of the PPI complaints in the UK have paid out a total of £26.5 billion in compensation to consumers who were mis-sold PPI since January 2011.Read More


Co-op Bank reports £477 million losses

Co-op Bank reports £477 million losses

Just a month after putting itself up for sale the Co-operative Bank has posted a £477 million loss on trading for 2016.

It is less than the £610 million figure for 2015, but is the fifth year in a row the bank has lost money.Read More


Not made a PPI claim yet? – do it ASAP says FCA

Not made a PPI claim yet – do it now says FCA

If you haven’t yet made a claim for mis-sold PPI the advice from the UK’s financial regulator is ‘do so as soon as possible’ or lose the right to claim.

The much heralded deadline will come into force on August 29th 2019, preceded by a two year consumer awareness advertising campaign says the Financial Conduct Authority (FCA).Read More


RBS reports £7 billion loss for 2016

RBS reports £7 billion loss for 2016

Royal Bank Of Scotland (RBS) has reported a £7 billion loss for 2016 – its ninth consecutive year in the red – taking its losses since 2008 to £58 billion.

The figure is more than treble its £2 billion loss for 2015 and includes costs for on-going legal actions in the United States, the cost of trying to sell its Williams & Glyn brand and a further £601 million for mis-sold PPI.Read More


HSBC expect ⅓ million new PPI claims

HSBC expect ⅓ million new PPI claims

On the day it announced its profits had dropped by 62%, HSBC said it expected to receive another ⅓ million claims for mis-sold PPI before the PPI deadline kicks in.

The fourth largest bank in the world said it had already dealt with 1.3 million claims and paid £3.3 billion in compensation.Read More