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Experts believe consumers could be missing out on millions of pounds in PPI compensation even though they may have already submitted a successful claim.
4:17 pm PPI Mis-selling
£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.
Two thirds of Brits still don’t trust banks
A new poll has found that two-thirds of Britons still don’t trust their banks, a decade after the financial crash.
£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.
Insurance giant AXA is suing Genworth for £31 million, claiming it failed to pay up for PPI mis-selling losses.
Barclays wins first round of £1.1 billion credit card battle
Barclays wins first round of £1.1 billion credit card battle
Barclays Bank has won the first round of a legal battle with an American credit card company which is suing it for £1.1 billion.
The complex case involves a PPI mis-selling style of payment break products and who should be responsible for paying the compensation.Read More
MPs warn Barclays about compensation closure plan
A pair of influential MPs has warned Barclays Bank that they should not shut down a compensation fund for the mis-selling of ‘debt waiver’ products.
FOS expects big increase in PPI claims
The Financial Ombudsman Service (FOS) is expecting a major increase in the number of PPI cases it is asked to handle in 2018.
In its plans and budget for the coming year, which has just gone out for consultation, FOS says it expects to receive a quarter of a million new complaints – 70,000 up on the current year.Read More
Lloyds receiving 11,000 new PPI claims a week
A decade after the PPI mis-selling scandal first raised its head, Lloyds Banking Group (LBG) are still receiving 11,000 new claims a week.
Figures released today show that, following the announcement of the PPI claims deadline of 2019, at the rate of new claims soared to 16,000 a week, but has since fallen back to the current 11,000 figure.Read More
Lloyds will buy MBNA for £1.9 billion
Lloyds Banking Group (LBG) is set to buy the Bank Of America MBNA credit card business for a reputed £1.9 billion.
The deal is expected to be completed in the first six months of 2017, subject to competition approval as the move will increase Lloyds share of the UK credit card market to 26%, just one percentage point behind market leader Barclays.Read More
How high will the PPI bill go?
When news started to break about the mass mis-selling of PPI by many of Britain’s lenders, a tentative estimate for the whole bill was given as between £3 billion and £4 billion.
Now it would be a brave person who would give an estimate of the final cost of what has grown into one of the biggest financial scandals this country has ever seen.Read More