Britain’s Competition and Markets Authority (CMA) has forced Paymentshield to pay £380,000 compensation to hundreds of customers for breaches of PPI rules with further payments expected in the near future.
A Welsh MP is calling on the government to investigate thousands of complaints about cavity wall insulation in a scandal that ‘could be as big as PPI’.
Successful PPI claimants could be owed a £350 million rebate from the taxman because they may have paid income tax twice on their compensation.
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.
Santander has become the latest high street bank to boost its PPI provision since the claims deadline on August 29th.
Royal Bank Of Scotland (RBS) has confirmed it has added another £900 million to pay future successful PPI claims, contributing to an £8 million operating loss before tax for the third quarter of the year.
Nationwide has been ordered to pay £2 million in refunds to more than 7,000 of its members for breaches of PPI rules.
Royal Bank Of Scotland (RBS), NatWest and Ulster Bank have announced they are going to cancel thousands of customers’ PPI policies at the end of the year.
The day after Royal Bank of Scotland (RBS) announced it was adding £900 million to its PPI compensation pot, Barclays confirmed it has added £1.4 billion to its own redress fund.