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


SUCCESS STORY – Extremely professional and friendly

Hutchinson success story

Keith Hutchinson wasn’t sure whether or not he had been mis-sold PPI in the past, but suspected it had been attached to several of his financial agreements.

So when he saw the Gladstone Brookes advert on TV he decided to check to see if he was, indeed, owed anything.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


HSBC adds £394 million to PPI pot

HSBC adds £394 million to PPI pot

HSBC has become the latest high street bank to increase its PPI provision, adding £394 million to the £3.3 billion it has already set aside.

The figure was revealed as the bank reported its third quarter figures with headline profits plummeting to $843 million because of the cost of restructuring the world-wide bank and selling off its Brazilian operation.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


SUCCESS STORY – The amount was totally unexpected

michael-chevalier

Michael Chevalier saw the Gladstone Brookes advert on television it made him think about the number of credit cards he had held in the past and whether he might be owed any money on them for mis-sold PPI.

“I thought it was a possibility, but I had no details about any of them when I rang Gladstone Brookes to see if they could help. They listened to what I had to say and the set about tracing my records,” he said.Read More


SUCCESS STORY – I didn’t think I’d get anything out of it

SUCCESS STORY – I didn’t think I’d get anything out of it

Alan Davies wasn’t sure whether or not he had been mis-sold PPI on a loan he had taken out with HSBC, but when he saw the Gladstone Brookes TV advert he decided to check it out anyway.

“I didn’t think I’d get anything out of it, but it was no win no fee so it wasn’t going to cost me anything to find out if there was nothing in it,” he said.Read More