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Just days after their chairman claimed Britain’s PPI scandal had turned portions of the country into fraudsters, Barclays have admitted that they wrongly told tens of thousands of customers that they did not have PPI.
9:56 am mis-sold
Could PPI claims be underpaid by £14 billion?
A group of lawyers is claiming that consumers could end up being underpaid by £14 billion if the nation’s banks follow PPI guidelines set by the financial regulator.
PPI Deadline – Is Arnie failing to get the message over?
Despite a £42 million PPI claims deadline consumer awareness campaign running for six months, nearly half the people in the UK still have no idea of the date or even know that a deadline exists.
PPI payouts edge closer to £30 billion
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
Barclays PPI claims 16% up in 2017
Claims for mis-sold PPI against Barclays Bank soared by 16% in 2017.
Total claims received have now topped 2.1 million – 300,000 up on the previous year – and the bank has paid out a total of £7.6 billion in compensation for successful PPI claims.Read More
£840 million for HSBC PPI in 2017
HSBC added an extra £840 million to its PPI compensation pot in 2017 in anticipation of a flood of new claims following the announcement of the PPI claims deadline.
Another £450 million for Lloyds PPI
As Britain’s high street banks start to gear up for the publication of their annual figures, analysts have started to speculate that millions of pounds will have to be added to be added to their PPI compensation pots.
February is the month when the big four banks – Lloyds, Barclays, Royal Bank Of Scotland (RBS) and HSBC reveal how their forward planning for dealing with future PPI claims has worked.Read More
SUCCESS STORY – Halifax originally rejected the claim
James and Suzanna Moss suspected they might have PPI attached to the credit card they had from Halifax and called in at their local branch to see if they could make a claim for possible mis-selling.
“But they told us we didn’t have any PPI – definitely,” said James.
SUCCESS STORY – “I can’t thank you enough”
Damian Shaw had seen the Gladstone Brookes advert on TV many time but never did anything about making his own PPI claim until in 2016 a friend suggested he make the call.
He was unsure how much PPI he may have had attached to agreements in the past and was surprised when his enquiry uncovered it was attached to four loans from Halifax. Following an investigation, the lender agreed he had been mis-sold the policies and paid him £5,334 in compensation.
PPI monthly payout continues to grow
The rate of payouts for successful PPI claims is continuing to rise following the announcement of a final deadline in 2019.
Official figures from the Financial Conduct Authority (FCA) reveal that Britain’s lenders paid out £298.8 million in September – the latest month that figures are available for – bringing the overall figure paid out since January 2011 to £28.5 billion.Read More