Blog

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...

Clydesdale Bank states PPI has not run its course 

Aug 28, 2017

More news on banks reviewing their provisions for Payment Protection Insurance, indicating there may be more increases for mis-sold PPI repayments… (The Herald, Scotland)- This week Clydesdale Bank warned that further provisions may be needed as PPI has not yet run its course. The Natio...

Banks to Escape PPI Fines 

Aug 28, 2017

Some interesting news coming out from Reuters this morning... (Reuters) - British banks are unlikely to face hefty fines for mis-selling loan insurance products because the financial industry watchdog is more concerned about how they treat customers as they shell out £20 billion in compe...

BBC Unearths Lloyds Redress Scandal 

Aug 28, 2017

Undercover investigations by the BBC have unearthed a fresh scandal for Lloyds Banking Group in the mis-selling of PPI saga.  According to the BBC’s investigations, Lloyds Banking Group have been scrimping on the compensation it pays to PPI claimants, saving the tax-payer backed ban...

Rogue Claims Firms Face MOJ Crackdown 

Aug 28, 2017

As the Ministry of Justice last week announced a major crackdown on the claims management industry, We Fight Any Claim has welcomed the news that 200 rogue claims firms were closed down by the regulatory body during the last year. As part of an industry clean-up, the Ministry of Justice r...

Banks Cease Talks on PPI Deadline 

Aug 28, 2017

Banks have ceased talks on agreeing a Payment Protection Insurance (PPI) deadline with regulatory body the Financial Conduct Authority (FCA), after it was reported this month that the industry was once again lobbying for a cut-off date for claims.  It was reported that banks were pushing for a...

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 ...

Miliband Unveils Plans to Fix 'Broken' Banks 

Aug 28, 2017

Last week, Labour leader Ed Miliband outlined plans to overhaul the banking industry by forcing major banks to give up significant numbers of their branches in a bid to increase competition in the industry.  The proposals, announced on Friday 17th January by Miliband, would mean that the &ldqu...

Ombudsman Warns of Complaints Backlog 

Aug 28, 2017

The Financial Ombudsman Service (FOS) has warned that it could take in excess of 18 months to resolve the thousands of PPI complaints submitted by disgruntled consumers across the UK. According to the FOS, 400,000 complaints regarding Payment Protection Insurance (PPI) remain unresolved, ...

PPI Payouts Help Boost UK Car Sales 

Aug 28, 2017

New Car sales in the UK have recorded their best year since 2007 according to data released this week. The news points to a rise in consumer confidence, while analysts have made a direct link between mis-sold PPI payments and the rise in UK car sales. Automobile sales in the UK were up 10.8% on 2012...