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With just months to go before the PPI claims deadline in August, Santander has revealed that it has £246 million remaining in its contingency fund to pay future successful claims.
2:05 pm Santander
Santander to close 140 branches
Spanish-owned bank Santander has announced the closure of 140 of its UK branches, putting 1,270 jobs at risk.
Santander fined £32.8 million over ‘flawed’ bereavement services
Britain’s financial regulator has fined Santander £32.8 million for failings in its ‘flawed’ probate and bereavement services.
Treasury to sell off remaining B&B mortgages
The Treasury are preparing to sell off the remaining Bradford & Bingley mortgages to try to recover the last portion of the £20 billion bailout cost from the financial crash of 2008.
Is FOS solely to blame for PPI backlog?
The Channel 4 Dispatches programme highlighted major problems with the handling of financial appeal cases by the Financial Ombudsman Service (FOS), alleging poorly trained staff making wrong decisions on appeals and favouring the banks above the consumer.
After an undercover reporter infiltrated FOS’s training programme and found some staff had to Google a financial product after being asked to make an appeal judgement on a case.Read More
Second RBS/GRG exec works for Santander
Second RBS/GRG exec works for Santander
It has emerged that a second former executive with Royal Bank Of Scotland (RBS) and connected to the controversial GRG division is working alongside former RBS chief Nathan Bostock at Santander.
Liberal Democrat leader Sir Vince Cable used Parliamentary privilege to name Mr Bostock as the person responsible for the controversial Global Restructuring Group (GRG) which is claimed to have wrecked small businesses it was supposed to be helping.Read More
MPs slam RBS over ‘disgraceful’ memo
Royal Bank Of Scotland (RBS) has been slammed by a group of MPs over the wording of a ‘disgraceful’ memo about the workings of their Global Restructuring Group (GRG).
They were commenting on a previously unpublished internal memo in which the department supposed to be helping businesses in trouble were told: “Rope – Sometimes you need to let customers hang themselves.”Read More
What is PPI and why could it be important to you?
The initials PPI have become part of the British way of life in recent years with millions of people claiming billions of pounds because it was mis-sold to them.
How many PPI claims remain to be made?
As the UK’s financial regulator adds last minute touches to a £42 million advertising campaign on the PPI claims deadline, how many more mis-selling claims will the banks have to face until the final curtain?
A total of £27.4 billion has already been paid out on around 18.4 million claims, with the banks setting aside a further £10 billion to pay future claims.Read More
HSBC now third bank to set aside £ millions more for PPI
HSBC has become the third High Street bank to set aside millions of pounds more to pay future successful PPI claims.
The world’s largest bank has set aside an extra £228 million in its half year figures bringing the total new provision for PPI mis-selling in just one week to more than £1.6 billion.Read More