Payment Protection Insurance
FSA sets out how banks should contact customers mis-sold PPIIn a new development in the payment protection insurance saga, the Financial Services Authority (FSA) has issued guidelines on what letters sent to customers should contain. |
New Lloyds finance chief Culmer lands £6m pay dealThe row over bankers’ pay has flared up again after part state owned bank Lloyds awarded its new finance director a package worth up to £6 million a year. |
Financial complaints fall but Lloyds still tops gripes tableConsumer complaints about financial institutions have fallen by a third in the past six months, according to data from the Financial Ombudsman Service. |
Lloyds Bank set to post £4bn loss for 2011Lloyds Bank is expected to post a loss of £4bn when it announces its financial results for 2011 tomorrow due in part to a £3.2bn bill for Payment Protection Insurance compensation. |
PPI compensation payouts reach £1.9bnBritain’s banks paid out £1.9 billion in compensation last year for the mis-selling of payment protection insurance, latest FSA figures reveal. |
Pressure on Horta-Osorio as RBS and Barclays shun clawbacksRBS and Barclays do not expect senior staff to repay bonuses awarded whilst PPI selling went on but Lloyds boss Antonio Horta-Osorio is under pressure to repay some of the signing-on award he received when he joined Lloyds. |
Lloyds Bank claws back bonuses from top staff who mis-sold PPILloyds Banking Group has announced that ten top executives will have to repay part of bonuses previously awarded as a penalty for the mis-selling of payment protection insurance (PPI). |
Barclays may use banker bonus funds to pay PPI fineBonuses could be cut at Barclays in order pay a fine levied on the organisation. |
Tax due on interest payments on PPI claims, says HMRCSpeaking to the BBC, a spokesman from HMRC has said that tax is payable on the eight per cent interest repaid to PPI claimants, netting the government millions of pounds. |
Lloyds posts financial loss of £3.9 bln due to PPI claimsLloyds Banking Group has reported a loss of £3.9 billion for the first nine months of 2011, in part due to having to pay out £3.2 billion in settling PPI claims. |
5 Common Questions When Making PPI ClaimsPPI (otherwise known as Payment Protection Insurance) has been mis sold to millions of people throughout the UK who are often unaware that they could be entitled to claim back thousands. Below are the five most common questions people have when deciding whether or not to make PPI claims. |
Banks taking longer to settle PPI claimsUK banks have been criticised for taking longer to pay customers wrongly sold payment protection insurance (PPI) even though the banks have admitted liability. |
Lloyds announces £3.3bn lossA bill of £3.2 billion to pay customer compensation over mis-sold payment protection insurance has left Lloyds with a first-half loss of £3.3 billion. |
Santander makes €620 million PPI provision for UK businessSpanish banking giant, Santander has followed the lead of other banks such as Lloyds and Barclays in making a provision against potential claims over mis-selling of payment protection insurance (PPI) in the UK. |
Which? warns PPI claimants against using claims companiesWhich? has warned consumers applying for compensation over the mis-selling of payment protection insurance (PPI) to avoid using claims management companies or they may lose 25 per cent of their compensation. |
Banks drop PPI appealAdmission of defeat by banks on PPI ruling is a victory for personal finance consumers, according to comparison site uswitch.com |
FSA wins PPI ruling against banksThe Financial Services Authority (FSA) has won a ruling in a judicial review against the British Bankers Association (BBA) over the miss-selling of payment protection insurance (PPI). |
FSA reveals Barclays Bank receives most complaintsThe Financial Services Authority (FSA) has released data showing that nearly 1 million complaints were received about UK banks in the final six months of 2010 and Barclays received the most. |
Swinton forced to refund 350,000 PPI customersSwinton Insurance has been fined £770,000 for "deliberate breaches" of rules over the sale of payment protection insurance (PPI) and ordered to refund 350,000 customers. |
Barclays wins PPI sale appeal as watchdog must rethink banBarclays has won an appeal that could lead the lender to maintain the sale of payment protection insurance (PPI) alongside loans. |
PPI ban will cost Barclays £160mThe ban on the sale of payment protection insurance (PPI) will cost Barclays as much as £160 million. |
PPI: Over 90% chance of complaint successComplaints data released by the Financial Ombudsman Service (FOS) show high levels of payment protection insurance (PPI) complaints are found in favour of consumers. |
PPI customers are 'exploited'Banks have exploited their customers with excessive premiums on payments protection insurance (PPI) policies, according to a new study. |
Barclays to challenge PPI rulingBarclays is set to challenge the Competition Commission's ruling on payment protection insurance (PPI) in court today. |
Payment Protection Insurance: Waste of money or essential protection?Ask anyone with loans or mortgages for their opinion on payment protection insurance (PPI) and you are likely to be met with a sharp intake of breath. |
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