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.
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.
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.
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.
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.
Royal Bank Of Scotland (RBS) still has £600 million available to pay future successful PPI claims, according to figures published in their annual report.
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).
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.
A £31 million lawsuit over who is responsible for paying out successful PPI claims is holding up decisions on complaints.