Payment Protection Insurance
PPI dominates as FOS reports doubling of financial complaintsFinancial complaints doubled to almost 7,000 a day but were still dominated by payment protection insurance complaints which accounted for 74 per cent of the 508,881 cases. |
Lloyds PPI boss Eric Daniels defends PPI as "good value"The man who was in charge of Lloyds Banking Group during much of the period when payment protection insurance was mis-sold has told MPs that most customers "got good value". |
PPI complaints rise again adding to banks compensation billsThe Financial Ombudsman Service says it has received almost 250,000 complaints about payment protection insurance this financial year and there has also been a rise in catalogue shopping complaints. |
PPI compensation payments could double to £25 billionA new report by the Times newspaper suggests that the total bill to UK banks for the mis-selling of payment protection insurance could reach £25 billion. |
CBI chief calls for time limit on PPI claims to help banksThe head of the CBI, John Cridland says that there should be a time limit on PPI claims so banks can concentrate on business that will help the economy. |
CAB calls for PPI CMC's to be banned from charging upfront feesThe Citizens Advice Bureau has called for payment protection insurance claims management companies to be banned from charging upfront fees and urges consumers to claim by themselves. |
Lloyds raises PPI bill by £1 billion up to £5.3 billionLloyds Banking Group announced a £144 million loss as it increased its provision for payment protection insurance compensation by £1 billion to £5.3 billion. |
Lloyds and Barclays are Britain's most complained about banksThe Financial Ombudsman Service (FOS) has published details of the top ten most complained about banks in the first six months of 2012 and Lloyds and Barclays top the PPI-dominated list. |
PPI claims rise by 75% in first six months of 2012The Financial Ombudsman Service (FOS) says there has been a big rise in PPI complaints in the first half of 2012 and 71% of PPI complaints are upheld in favour of the consumer. |
Wheatley warns banks they have 18 months to stop mis-sellingMartin Wheatley, head of the Financial Services Authority said in a speech today that UK banks have 18 months to prove they no longer mis-sell products or face "intrusive" action. |
PPI and claims management companies: The inside storySome Claims Management Companies (CMCs) have a bad reputation and Which? has campaigned against them. I put some questions to Craig Lowther, managing director of a CMC, MoneyBoomerang to get his take on the common criticisms. |
How to make a PPI claimLatest figures suggest £3.5 billion of the £10 billion set aside for payment protection insurance compensation is still unclaimed. We show you how to claim without using a claims management company. |
Ombudsman says banks not settling PPI claims quickly enoughThe Financial Ombudsman Service warns that it is receiving 1,500 complaints a day and that banks are not responding to customer complaints quickly enough. |
PPI compensation set to exceed £10 billionWith the "big five" banks announcing interim financial results that include extra provisions for compensation payments the total set aside by the banks for the mis-selling of PPI is set to top £10 billion. |
UK banks 'face further £1bn bill for PPI mis-selling'The UK’s top four banks look set to announce a further £1 billion of charges for mis-selling payment protection insurance (PPI). |
PPI still dominates complaints to financial ombudsmanPayment protection insurance (PPI) mis-selling has once again dominated latest complaints received by the Financial Ombudsman Service (FOS), new figures show. |
Banks agree to make PPI complaints process easierFollowing an investigation by Which? and Moneysavingexpert.com, banks have agreed to make it easier for customers to find out about payment protection insurance. |
Financial Ombudsman receives record PPI claimsSix out of every 10 cases handled by the Financial Ombudsman Service in the past year were about the sale of payment protection insurance (PPI). |
Lloyds slams PPI claims process as RBS sets aside extra £125mLloyds banking Group says that the "harvesting" tactics adopted by claim management companies is unfair and wastes time and money on claims from people who were never customers. |
Lloyds makes extra £375m provision for PPI claimsLloyds Banking Group has set aside an additional £375 million to cover further payment protection insurance (PPI) compensation claims. |
Barclays raises PPI provision by £300mBarclays has raised its provisions to compensate customers mis-sold payment protection insurance (PPI) by £300 million and RBS is likely to follow suit. |
PPI summit agrees commitment to help consumersThe summit organised by Which? and MoneySavingExpert.com to help consumers make their own claims for PPI compensation will raise awareness and save people money, it is hoped. |
One in four consumers 'unaware of PPI claims fees'A quarter of consumers claiming for mis-sold payment protection insurance (PPI) did not know that the companies acting for them take a fee, new research reveals. |
DIY PPI claim campaign launched by consumer groupsConsumer groups are to launch a campaign to encourage people mis-sold payment protection insurance to manage their own claims and avoid paying up to 25% to claims management companies. |
Further job losses expected in banking sectorThe UK’s five biggest banks are to cut more jobs after profits were hammered by PPI claims, the euro debt crisis and higher regulatory costs, a report reveals. |
Newsletter sign up