PPI News – FOS handling 3,500 new PPI complaints a week

FOS handling 3,500 new PPIO complaints a week

The Financial Ombudsman Service (FOS)has been receiving an average 3,500 new PPI complaints a week in the wake of the claims deadline of August last year.

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PPI compensation breaks £37 billion barrier

PPI compensation breaks £37 billion barrier

The total compensation paid for PPI mis-selling has broken the £37 billion barrier.

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Virgin Money £139 million in the red through PPI

Virgin Money £139 million in the red through PPI

Virgin Money has declared a £139 million loss on the year after being hit with a deluge of PPI claims.

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PPI NEWS – A REVIEW OF 2019

PPI NEWS – A REVIEW OF 2019

2019 was a landmark year for PPI with the much heralded claims deadline passing on August 29th.

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Lloyds wrongly rejected 61,000 PPI claims

Lloyds wrongly rejected 61,000 PPI claims

It has emerged that Lloyds Banking Group (LBG) wrongly rejected 61,000 PPI claims after telling its customers they could find no records of an account with PPI attached.

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PPI News – Genworth liable to pay for PPI mis-selling

Genworth liable to pay for PPI mis-selling

A High Court judge has ruled that an American insurer – Genworth Financial – is legally liable for 90% of the £265 million cost of PPI policies mis-sold through Spanish-owned bank Santander.

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PPI News – PPI total payout heading for £37 billion

PPI total payout heading for £37 billion

Official figures just released show that in the month of the PPI claims deadline Britain’s banks paid out £391.6 million in fresh compensation for mis-sold policies.

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PPI News – Virgin Money to take £450 hit for PPI

Virgin Money to take £450 hit for PPI

Virgin Money is expecting to take a £450 million hit for last minute PPI claims following its £1.7 billion takeover by the former Clydesdale Yorkshire Banking Group (CYBG) last year.

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PPI News – Co-op Bank takes £69 million PPI hit

A £60 million PPI hit has dragged the Co-operative Bank deeper into the red with a £118.6 million loss for the three months to September this year.

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PPI News – Shop Direct needs £150m cash injection for PPI

Shop Direct needs £150m cash injection for PPI

Auditors of Shop Direct have warned that the firm could collapse unless it gets a cash injection of £150 million to cover its PPI compensation.

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