8 June 2015

FCA fines Lloyds a record £117m for ‘unacceptable’ conduct

A significant number of customer complaints have been unfairly rejected by Lloyds and we are pleased to report the FCA has fines Lloyds a £117m for this conduct. Please click here is you wish to read the report published by FCA. The fine was prompted from a new policy introduced by the bank in early 2012 – […]

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17 March 2015

Time could be running out for PPI claims

The Financial Conduct Authority (FCA) may put a time limit on Payment Protection Insurance (PPI) claims, which consumers have been making since January 2011. Over the past four years, banks have already compensated customers who were mis-sold PPI with a staggering £18bn. However, thousands of PPI complaints are still being made each week and many […]

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2 May 2014

Banks not playing fair on PPI compensation claims

Whether many people will be surprised at this news remains to be seen, but regulators, policy makers and the media are rightly rather frustrated that certain banks are not playing fair on PPI compensation claims. A recent BBC investigation has found that Lloyds Banking Group, made up of brands including TSB, Halifax, Bank of Scotland […]

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28 November 2013

PPI complaints about reclaims still a problem though 2013

The Financial Ombudsman Service has provided some updates about the PPI complaint situation this year – and it makes both stark and heartening reading. Numbers of complaints to the Ombudsman from those having issues with their PPI reclaim were the highest on record at 327,035 over the first 6 months of 2013, 15% more than […]

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2 October 2013

Total PPI refunds to hit £20 billion?!

If there is one upside to the PPI debacle, it’s the incredible boost to the economy created by all the PPI refunds. The latest concrete estimate for how much the big banks, building societies and credit companies will have to pay out is £18.8 billion, which equates to around £800 for each and every household […]

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15 August 2013

Looking to claim PPI? £18.4 billion allocated and counting….

People looking to claim PPI will be heartened, and probably shocked, to discover that the total funds allocated so far have now reached £18.4 billion according to consumer group Which?, which is TWICE THE COST of the 2012 Olympic Games. When you think of all the furore about the escalating costs in the run-up to […]

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25 July 2013

PPI claim payouts reach over £10.5 billion

It’s nice to have some good news to share in amongst all of the horrible PPI problems!!! The latest figures released by the Financial Conduct Authority (FCA) show that more than £10.5 billion has now been sent out in PPI claim payouts to people requesting PPI refunds since January 2011. To flesh that out a […]

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10 July 2013

Just 10 per cent of policies have resulted in PPI compensation claims

For anyone thinking that the PPI scandal is on the wane, recent news from the Financial Ombudsman Service (FOS) about the percentage of PPI compensation claims is pause for thought: Just 10% of PPI policies have so far resulted in a PPI compensation claim!   With all the noise and news about the biggest mis-selling […]

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27 June 2013

Financial services industry evolves to address PPI refund problem

We’ve written before about how the financial services industry is recruiting fervently to meet the demand of consumers having problems obtaining their PPI refunds. The issue has reached such a state now that the Institute of Financial Services (IFS) has updated and re-launched its Level-3 Certificate in Regulated Complaints Handling in an attempt to better […]

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13 June 2013

New PPI Reclaim Scandal at Lloyds

Anyone reading the news has probably seen articles about the fact that many people may have had their Lloyds PPI reclaim request delayed or rejected when in fact it should have been approved and a refund paid out. In light of the existing scandal, this is just not good enough! According to reports, Deloitte was […]

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