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The last minute rush to make a claim for potentially mis-sold PPI before the claims deadline has ‘gone nuclear’ according to one bank official.
3:02 pm PPI Claims
How much PPI remains to be paid?
As the countdown to the PPI claims deadline continues, speculation is rising about what the final total will be for what has become one of the largest financial scandals in British history.
Even single PPI claims can produce big returns
This month’s Top 20 payouts from Gladstone Brookes are good examples of how much money is payable on just a single claim with no fewer than 9 out of 20 receiving compensation on a single policy.
PPI claims help keep Co-op Bank in the red
The on-going cost of compensation for mis-selling PPI policies has helped keep the Co-op Bank in the red, according to its annual report.
Concern expressed that banks are delaying PPI claims
With just over six months to go to the PPI claims deadline concern is being expressed that some of Britain’s banks are delaying claims by weeks or even months.
RBS still has £600 million to pay PPI claims
Royal Bank Of Scotland (RBS) still has £600 million available to pay future successful PPI claims, according to figures published in their annual report.
PPI complaints highest for more than four years
The number of complaints for the mis-selling of PPI has shot up to its highest level in more than four years according to new figures from the Financial Conduct Authority (FCA).
UK banks ‘routinely dodge’ PPI claims
Consumer champion Which? claims consumers could be missing out on millions of pounds in additional PPI compensation because Britain’s banks ‘routinely dodge’ investigating all possible cases.
£31 million lawsuit over unpaid PPI delaying decisions
A £31 million lawsuit over who is responsible for paying out successful PPI claims is holding up decisions on complaints.
Barclays is third bank to raise PPI provision
Barclays has become the third UK high street bank to increase its PPI provision within a week.
The announcement of a £400 million increase in the amount of money set aside to pay future successful PPI claims follows the £350 million announced by CYBG (the former Clydesdale and Yorkshire Bank) and the £90 million increase by Lloyds Banking Group (LBG).Read More