Consumers

Dramatic Increase in Packaged Bank Account Complaints 

Aug 28, 2017

The Financial Ombudsman Service (FOS) has reported that complaints about credit brokers and packaged current accounts are increasing. Figures show that there has been a dramatic increase of almost 10,000 enquiries within both areas in comparison to last year figures. The increase in enquires to th...

PPI Complaints Remain at Historically High Level 

Aug 28, 2017

The Financial Ombudsman Service (FOS) announced this week that the number of payment protection insurance (PPI) claims coming into its office remained at a “significant level.”  Although complaints have fallen from last year’s highs of 12,000 per week, they remain at a histor...

Alleged £1bn shortfall by banks for PPI Pay-Outs 

Aug 28, 2017

Compensation for mis-sold Payment Protection Insurance has allegedly been underpaid by up to £1bn. Customers who are potentially affected had PPI on credit cards issued by Lloyds Banking Group, Barclays, MBNA and Capital One. The reason for the shortfall in compensation payments has arisen du...

Banks Push for PPI Deadline 

Aug 28, 2017

With Lloyds Banking Group this month announcing they are to put aside additional PPI provisions, it seems that the PPI scandal is set to stick around for some time yet. However, despite the total PPI bill across all banks reaching £20 billion, there are rumours surrounding a revived proposal ...

High Street Banks Face New Investigations 

Aug 28, 2017

Britain’s banks are once again facing questions from consumers and regulators as two high-street banks have this month become embroiled in yet more scandal. RBS and Co-op bank have both come under fire following damning allegations against both lenders. The Co-op bank, who have found themselv...

Surprise Drop in UK Inflation Rate 

Aug 28, 2017

The UK inflation rate has fallen to 2.2% in October according to latest figures from the Office for National Statistics (ONS). The inflation rate as measured by the Consumer Price Index (CPI) fell to 2.2% in October compared with 2.7% the month before. The fall will come as welcome news to househol...