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. People seeking compensation over mis-sold payment protection insurance (PPI) will have to make their claims before 29 August 2019. ... [Read full article on BBC ]
Thursday 2nd of March 2017 07:21:58 AM
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. Lloyds Banking Group has set aside a further £350m to cover claims for mis-sold payment protection insurance (PPI). ... [Read full article on BBC ]
Friday 10th of March 2017 02:05:39 PM
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. Britain’s financial watchdog has admitted that only one in five potential complaints about mis-sold payment protection insurance had been made so far, as it set a final deadline of August 2019 for filing claims. ... [Read full article on Guardian ]
Thursday 2nd of March 2017 05:36:47 PM
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...." . A deadline of June 2019 could be set by the Financial Conduct Authority (FCA) for disgruntled customers to make compensation claims to their banks and credit card issuers about mis-sold PPI policies. ... [Read full article on BBC ]
Tuesday 28th of February 2017 12:14:54 AM
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.... If I go on to its website today and enter my landline number, the system still claims I can get Infinity 2. How many other people have been mis-sold a service they can’t receive?. ... [Read full article on Guardian ]
Friday 17th of March 2017 07:00:03 AM
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Latest Finance News related to Mis-sold

BT Infinity broadband claims about speed are on the line image
Source : Guardian [Read Article] Friday 17th of March 2017 07:00:03 AM
.... If I go on to its website today and enter my landline number, the system still claims I can get Infinity 2. How many other people have been mis-sold a service they can’t receive?. ...
Lloyds Banking Group sets aside an extra £350m for PPI image
Source : BBC [Read Article] Friday 10th of March 2017 02:05:39 PM
. Lloyds Banking Group has set aside a further £350m to cover claims for mis-sold payment protection insurance (PPI). ...
Just one in five complaints about potential mis-sold PPI  made so far image
Source : Guardian [Read Article] Thursday 2nd of March 2017 05:36:47 PM
. Britain’s financial watchdog has admitted that only one in five potential complaints about mis-sold payment protection insurance had been made so far, as it set a final deadline of August 2019 for filing claims. ...
PPI claims deadline is announced image
Source : BBC [Read Article] Thursday 2nd of March 2017 07:21:58 AM
PPI still dominates financial ombudsman's in-tray image
Source : BBC [Read Article] Tuesday 28th of February 2017 12:14:54 AM
...." . A deadline of June 2019 could be set by the Financial Conduct Authority (FCA) for disgruntled customers to make compensation claims to their banks and credit card issuers about mis-sold PPI policies. ...
Lost billions image
Source : BBC [Read Article] Sunday 1st of January 2017 04:13:54 AM
....While the industry watchdog, the Financial Conduct Authority, holds data on the success of compensation schemes in reaching those entitled to payouts, it does not publish all of it. One of the biggest unknowns is the number of people affected by mis-sold payment protection insurance (PPI), and the amount they should receive. ...
Lloyds's MBNA deal: good for the bank, bad for competition | Nils Pratley image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:01:02 AM
....This cheerful interpretation is not to be sniffed at. Lloyds has taken £17bn in provisions for mis-sold payment protection insurance since 2011, sold most of its operations outside the UK, demerged TSB and cut costs. ...
RBS fine fears weigh on share sale image
Source : BBC [Read Article] Wednesday 16th of November 2016 10:40:26 PM
....Concerns RBS may be fined between $5bn (£4bn) and $12bn in the US are preventing the government from selling shares in the bank, MPs have heard. RBS faces a settlement with the US Justice Department over claims it mis-sold toxic mortgage securities in the run-up to the financial crisis of 2008. ...
Five minute guide to putting paid to the pension scammers image
Source : Daily Express [Read Article] Sunday 6th of November 2016 12:01:00 AM
....WRONG CALL . One in five of us receives a cold call every single day, insurer Axa says, mostly from claims management companies encouraging a claim for mis-sold payment protection insurance or for a whiplash injury. ...
PPI complaints continue to flood in at Ombudsman image
Source : BBC [Read Article] Thursday 3rd of November 2016 12:05:13 AM
....The figures highlight yet again what a huge problem PPI compensation has become for the UK's banks, as the complaints continue to flood in. It has been calculated by the think tank New City Agenda that just over £40bn has now been set aside by banks to pay compensation to customers who were mis-sold the insurance polices in the first place, and to employ thousands of extra staff to process the subsequent complaints. ...
Lloyds sets aside extra £1bn for PPI mis-selling image
Source : BBC [Read Article] Wednesday 26th of October 2016 08:45:11 AM
Nuisance call bosses to face £500,000 fines image
Source : BBC [Read Article] Sunday 23rd of October 2016 01:17:31 AM
....Consumer group Which? said it was a "massive victory". Companies offering to help to reclaim mis-sold payment protection insurance or with accident claims are behind some of the most common nuisance calls. ...
Five-minute guide to the ever-changing world of pensions image
Source : Daily Express [Read Article] Sunday 23rd of October 2016 12:01:00 AM
.... . However, some annuity owners may be due redress after a regulatory investigation found that almost 100,000 of them have been mis-sold an annuity, and could potentially claim thousands in compensation. ...
FTSE 100 closes 1% lower as Pearson shares sink image
Source : BBC [Read Article] Monday 17th of October 2016 08:18:05 AM
...." . Shares in two insurers, Admiral and Standard Life, both fell nearly 4%, with Standard Life admitting it would have to compensate some customers who had been mis-sold annuities in the past. ...
Pensions: Compensation for those mis-sold annuities image
Source : BBC [Read Article] Friday 14th of October 2016 09:39:44 AM
. Thousands of people in ill-health have been mis-sold pension annuities - an annual retirement income - and will be compensated, a regulator says. ...
Warning over doorstep mattress sales image
Source : BBC [Read Article] Saturday 8th of October 2016 09:03:10 PM
....Some sellers pretend a local hotel is selling them after ordering too many. Councils across England have dealt with mis-sold mattresses:. ...
Related to :
Realising your home’s potential with equity release image
Source : Daily Express [Read Article] Wednesday 5th of October 2016 10:01:00 AM
....While some early equity release schemes caused controversy, the latest generation of plans contain far more safeguards and are heavily regulated by City watchdog the Financial Conduct Authority. This means that equity release advisers and providers must comply with strict rules, and you have redress if you are mis-sold a plan. ...
HEALTH insurance could be the PROTECTION we need the most image
Source : Daily Express [Read Article] Sunday 2nd of October 2016 02:28:00 PM
....”. Income protection should not be confused with the inferior payment protection insurance (PPI), which was heavily mis-sold by the banks in the UK’s biggest-ever financial services scandal. ...
RBS to pay $1.1bn to settle certain US mis-selling claims image
Source : BBC [Read Article] Wednesday 28th of September 2016 12:02:22 AM
....Royal Bank of Scotland is to pay $1. 1bn (£846m) to settle two claims it mis-sold toxic mortgage securities in the run-up to the financial crisis. ...
Payday loan complaints more than triple image
Source : BBC [Read Article] Monday 5th of September 2016 11:10:14 PM
....". PPI complaints - made by those who felt they had been mis-sold the loan insurance - fell slightly compared to the second half of 2015, continuing a trend. ...
I’m moving down the road and Virgin Media is demanding £240 image
Source : Guardian [Read Article] Sunday 28th of August 2016 06:00:24 AM
.... Virgin put up its prices this week and you may be able to use that to get out of the contract. As you feel you were mis-sold the contract, you should raise a formal complaint with Virgin. ...
Old insurance policies could be draining your wallet without good payouts image
Source : Daily Express [Read Article] Wednesday 24th of August 2016 07:42:00 AM
.... . However, it is too late now to check if they were mis-sold the policy. ...
RBS blames legacy issues for £2bn loss image
Source : BBC [Read Article] Friday 5th of August 2016 06:31:02 AM
....The legacy issues include mis-selling payment protection insurance (PPI) to customers and litigation related to a £12bn rights issue in 2008 during the financial crisis. Over the six months, RBS set aside a further £450m to compensate customers who were mis-sold PPI, taking its total costs related to the scandal towards £5bn. ...
PPI claims - all you need to know about the mis-selling scandal image
Source : Guardian [Read Article] Tuesday 2nd of August 2016 12:32:07 PM
.... Around 45m of those were sold by banks, worth around £44bn. It is not clear how many of these policies were mis-sold – initial estimates by the FCA were that 3m people were affected – but by January 2016 12m customers had received compensation, totalling £24. ...
Mis-sold PPI: Claim before THIS date or you could miss out, says regulator  image
Source : Daily Express [Read Article] Tuesday 2nd of August 2016 11:24:00 AM
....Alex Neill, director of policy and campaigns at consumer champion Which?, said: "The PPI scandal has been one disaster followed by another, it is the country's biggest financial scandal with a wholly inadequate redress scheme. "If a PPI deadline is to be introduced, when millions of pounds are still being set aside for payouts, the FCA must work with banks to ensure that customers who might not know they were mis-sold PPI get back the money they are owed. ...
PPI claim deadline proposed for June 2019 image
Source : BBC [Read Article] Tuesday 2nd of August 2016 07:30:43 AM
. The Financial Conduct Authority (FCA) wants to set a June 2019 deadline for people to make claims over mis-sold payment protection insurance (PPI). ...
Barclays adds £400m to PPI payments as profits fall image
Source : BBC [Read Article] Friday 29th of July 2016 07:35:54 AM
. Profits at Barclays fell by 21% in the first half of the year as the bank set aside a further £400m to compensate customers mis-sold payment protection insurance (PPI). ...
Warren would give a middle finger to Wall Street as Clinton's vice-president image
....Now that Clinton has turned to criticizing Trump’s economic policies, plans and track record, she could benefit from Warren’s background as one of the country’s most prominent advocates for ordinary Americans. Repeatedly, long before she ever ran for elective office, Warren battled to bring attention to the plight of families crippled by subprime mortgages, credit cards with multiple penalty fees, overpriced auto loans and other products that banks and other lenders aggressively mis-sold. ...
Student loans ‘really were’ mis-sold image
Source : Guardian [Read Article] Saturday 4th of June 2016 06:01:02 AM
.... While their competence with basic number work varied, it became clear to me that some of them, sadly, were incapable of calculating a simple percentage, let alone estimating the compounded impact over many years of an interest rate of 3% or more on a loan of perhaps £30,000. In my view, the loans after the hike to £9,000 were indeed mis-sold. ...
MONEY GUIDE: How to AVOID costly pension traps image
Source : Daily Express [Read Article] Wednesday 1st of June 2016 11:12:00 AM
....Victims of pensions fraud can appeal to the Financial Ombudsman Service, but compensation is capped at £150,000. Growing numbers say they have been mis-sold a self-invested personal pension (SIPP), complex plans that give you the freedom to manage your own pot but are not right for everybody. ...
Student loans: the next big mis-selling scandal? image
Source : Guardian [Read Article] Saturday 28th of May 2016 05:59:26 AM
Pension plan complaints jump 25 per cent as customers baffled by deals image
Source : Daily Express [Read Article] Thursday 26th of May 2016 03:09:00 PM
....Issues with specialist insurance, including pet and home emergency cover, jumped by a third. But Payment Protection Insurance prompted the most complaints, with the ombudsman still receiving 4,000 new cases a week relating to the products that were widely mis-sold before the financial crisis hit. ...
PPI scandal: 'serious risks' of more mis-selling in financial services market image
....It said departments and regulators had been “far too passive” in allowing compensation that could have been paid to mis-selling victims instead of claims managers. More than 12 million consumers were mis-sold PPI, and firms have paid more than £22bn in compensation since April 2011, the report said. ...
Savers are being tempted by complex 'structured products' image
Source : Daily Express [Read Article] Wednesday 20th of April 2016 03:01:00 PM
....But structured products remain controversial as they can be difficult to understand. Some have also been mis-sold or collapsed in the past, stunning investors who believed their capital was guaranteed. ...
Shared parental leave is suffering teething problems image
Source : Guardian [Read Article] Monday 4th of April 2016 11:01:19 PM
.... The rest is interest. The PFCA chairman, Nick Baxter, suggests that on a conservative estimate about three-quarters of policies were mis-sold. ...
Co-op Bank chairman defends Niall Booker's £4m pay after loss image
Source : Guardian [Read Article] Friday 1st of April 2016 10:26:41 AM
....The chairman of the Co-operative Bank has defended his chief executive’s pay package after Niall Booker was handed almost £4m for a year in which losses more than doubled to £611m. The bank’s pre-tax loss for 2015 widened from £264m a year earlier as it suffered £121m in losses on unwanted assets and costs for compensating customers mis-sold payment protection insurance (PPI) and consumer loans rose by more than £100m. ...
Source : Reuters [Read Article] Thursday 3rd of March 2016 07:46:11 AM
....Britain's public spending watchdog, the National Audit Office (NAO), said this month the FCA could not be confident that its approach to tackling mis-selling was effective or represented value for money. The NAO said banks have paid over 22 billion pounds ($31 billion) in compensation for mis-sold payment protection insurance or PPI. ...
'Pension reforms won't be the next PPI' image
Source : BBC [Read Article] Wednesday 2nd of March 2016 06:35:59 PM
.... . When asked why her organisation had not forced banks to write to all their customers who had been mis-sold PPI, she said, that was not practical. ...
Record fine for cold-calling firm image
Source : BBC [Read Article] Monday 29th of February 2016 05:26:06 PM
....Three Manchester based firms have also been told to stop making unsolicited nuisance calls. These firms were responsible for millions of calls which covered mis-sold pensions, PPI and debt management. ...
Regulator issues record £350,000 fine over PPI mis-selling calls image
Source : Guardian [Read Article] Monday 29th of February 2016 01:31:04 PM
....It has also ordered three Manchester-based companies to stop making unsolicited nuisance calls. Enforcement notices have been issued to a network of companies in the town of Sale, which are responsible for millions of automated nuisance calls that covered mis-sold pensions, PPI and debt management. ...
Lloyds profits fall on PPI claims image
Source : BBC [Read Article] Thursday 25th of February 2016 07:23:55 AM
....The bank said it welcomed "the decision of the Financial Conduct Authority to consult on a deadline for PPI complaints and the certainty that this will bring for both customers and shareholders". The FCA has proposed a time bar that will allow people to claim compensation for mis-sold PPI until 2018 before drawing a line under the affair. ...
Claims firms take 25% of PPI payouts image
Source : BBC [Read Article] Wednesday 24th of February 2016 12:15:33 AM
....Although fines appear to have substantially reduced financial incentives for firms to mis-sell, the complexity of products, sales incentives and company cultures meant the risks remained. Some 12 million customers have been paid compensation by banks and other financial organisations for mis-sold PPI. ...
Banks face up to old and new complaints image
Source : BBC [Read Article] Tuesday 23rd of February 2016 12:43:26 PM
.... . More than half of complaints to the Financial Ombudsman Service (FOS) about banks and financial services were about mis-sold payment protection insurance. ...
PPI compensation is still the biggest cause for complaints against banks image
Source : Telegraph [Read Article] Tuesday 23rd of February 2016 05:00:46 AM
.... . As the redress scheme for mis-sold payment protection insurance starts to draw to a close, tens of thousands of customers are still reporting problems with the compensation programme. ...
European banks fail to sell Coco bonds image
Source : BBC [Read Article] Sunday 21st of February 2016 02:52:16 PM
....Three of the UK's biggest banks - HSBC, Lloyds and Royal Bank of Scotland - will report their company results for 2015 this week. Analysts forecast costs will rise at all three, partly due to the UK bank levy and high bills from mis-sold Payment Protection Insurance (PPI). ...
Savers pay hundreds for bank account mis-selling claims rejected by ombudsman image
Source : Telegraph [Read Article] Saturday 20th of February 2016 07:30:14 AM
.... . There was a spike in complaints at the start of last year as claims management companies moved from making claims about mis-sold payment protection insurance to packaged bank accounts. ...
Source : Reuters [Read Article] Tuesday 16th of February 2016 02:39:10 PM
. After winning billions of pounds in compensation from banks for Britons who were mis-sold insurance products on loans, some lawyers are turning their sights on British insurers. ...
PPI claims firms face crackdown on fees image
Source : Telegraph [Read Article] Monday 15th of February 2016 06:36:16 PM
.... . Since 2011, British banks have paid out more than £22bn to borrowers who were mis-sold payment protection firm (PPI). ...
Crowdfunded Rebus in administration image
Source : BBC [Read Article] Wednesday 3rd of February 2016 07:28:35 PM
....Investors in the company, which reports suggest number more than 100, could now lose their money. Rebus specialised in pursuing claims against companies that mis-sold complex investments, which were later deemed to be tax-avoidance schemes. ...
Packaged bank accounts: The next mis-selling scandal image
Source : Daily Express [Read Article] Tuesday 2nd of February 2016 05:16:00 PM
.... To lodge a claim, work out the total you’ve paid in fees, add on 8 per cent interest and write to your bank. Maundrell adds: “You can make a claim if you were mis-sold an account you no longer have and you could get hundreds of pounds back. ...
Housing blew up the global economy in 2008 and we learned nothing image
Source : Guardian [Read Article] Friday 29th of January 2016 07:06:08 AM
....But the film also functions as a morality tale: people believed houses were a safe investment because “who stops paying their mortgage?”. Well, people who can’t afford to do, because they’ve been irresponsibly mis-sold a very expensive financial product and the cost is too high. ...
Interest rate mis-selling under the spotlight in judicial review image
Source : Telegraph [Read Article] Monday 25th of January 2016 12:01:56 AM
.... . After a review by the FCA, nine banks agreed to set up redress schemes for customers who lost out as a result of a mis-sold swap. ...
Source : Reuters [Read Article] Thursday 21st of January 2016 07:17:59 AM
.... The FCA has no permanent CEO and Wednesday's exchange threw a harsh spotlight on its chairman. Lawmakers said they had heard concern from the public and labour unions that the FCA was failing to hold banks to account, after years of scandals about mis-sold products and rigged markets, and lasting outrage at past bailouts. ...
Robots rub up with Davos delegates image
Source : Guardian [Read Article] Sunday 17th of January 2016 09:00:05 AM
....3bn). But late last week it announced it had agreed to pay more than $5bn to settle claims it had mis-sold mortgage-backed securities to investors during the financial crisis. ...
Tax returns: the quirks of self-assessment image
Source : Telegraph [Read Article] Monday 11th of January 2016 10:18:51 AM
.... PPI . If you were mis-sold payment protection insurance and have successfully claimed it back, the firm who sold it to you may be giving you interest of 8pc p. ...
New year, same old story as FCA lets bankers off hook by dropping review image
Source : Guardian [Read Article] Thursday 31st of December 2015 12:35:59 PM
.... That shift applied to pay and bonuses, promotion decisions among middle managers and the lack of workplace diversity in a pinstripe, sexist world. It was quite separate from tackling successive misjudgments (such as AAA-rated junk bonds) and scandals such as mis-sold consumer products and conspiracies to manipulate foreign exchange and bank rates. ...
Banking inquiry shelved by regulator image
Source : BBC [Read Article] Thursday 31st of December 2015 06:50:37 AM
.... . A time limit is being proposed on compensation claims for those mis-sold payment protection insurance (PPI) - a scandal that has seen the banks haemorrhage £25bn to date and the bank levy, a charge on UK banks worldwide assets was replaced with a less onerous charge on domestic profits. ...
National Savings halves Pensioner Bond rates from 2.8pc to 1.45pc image
Source : Telegraph [Read Article] Monday 14th of December 2015 10:00:07 PM
.... Andrew Hagger, founder of Moneycomms, a savings website, said: “I am in shock. Many savers may feel like they have been mis-sold pensioner bonds as they expected them to pay out good rates for years to come. ...
FCA unable to estimate future PPI cost to banks image
Source : Guardian [Read Article] Thursday 26th of November 2015 02:12:37 PM
....The banks are in the process of writing to 5. 5 million customers at risk of having been mis-sold PPI, but who have not yet complained. ...
PPI claims firm fined after sending 1.3 MILLION spam texts to mobile numbers it bought image
....The mis-selling scandal of PPI - payment protection insurance - prior to the financial crisis has led to an army of the so-called claims managment companies trying to convince people to claim for refunds in an effort to get a cut of the payout. However, it is straightforward for people to complain to banks of credit card providers directly about a mis-sold policy. ...
Mis-sold insurance? This scientific formula could win you compensation image
Source : Telegraph [Read Article] Wednesday 18th of November 2015 08:12:09 AM
. Insurance and banking customers who have been mis-sold financial products are more likely to be awarded compensation if they use a scientific test to prove policy documents were too difficult to read. ...
Justice unit rakes in £900,000 from rogue claims management companies in just 90 days image
. Companies behind nuisance calls and texts that promise payouts for whiplash, mis-sold bank accounts and PPI insurance rake in more than £700m a year – yet just three firms have faced financial penalties. ...
HSBC could delay decision on whether to stay in London image
Source : Guardian [Read Article] Monday 2nd of November 2015 07:56:22 AM
....4bn drop in fines and customer compensation. A year ago, HSBC was among the banks bracing for fines for rigging currency markets and facing payouts to compensate customers mis-sold payment protection insurance. ...
Struggles for card compensation image
Source : Telegraph [Read Article] Saturday 31st of October 2015 08:42:19 AM
. I completed a form for compensation from CPP over mis-sold credit card protection, pointing out that “any payment should be made out to me in my married name of Mrs ALA, not Miss ALD. ...
Rafael Benitez among sports celebrities embroiled in new tax investigation image
Source : Telegraph [Read Article] Saturday 31st of October 2015 07:23:03 AM
....” . Martin Taylor, of Rebus, a firm which represents investors who have been mis-sold, said: "It is difficult to see how pension companies could have allowed this in the first place. ...
Lloyds sees third quarter profits rise image
Source : BBC [Read Article] Wednesday 28th of October 2015 07:20:54 AM
....16bn for the underlying figure, which excludes PPI and which the bank considers a better measure of day-to-day business. The financial regulator, the Financial Conduct Authority (FCA), has said it intends to set a 2018 deadline for people to claim compensation for mis-sold PPI. ...
Savings and lending up at Clydesdale image
Source : BBC [Read Article] Tuesday 27th of October 2015 10:58:32 PM
....2%. The parent company has agreed to set aside £465m as compensation for mis-sold payment protection insurance and mis-sold business loans. ...
Hard-line policy: Over-60s forced to take raw deals from lenders image
Source : Daily Express [Read Article] Sunday 25th of October 2015 05:11:00 PM
....”. Nervous lenders are taking a firm stance towards older borrowers in case some fail to pay off their mortgage and subsequently claim it was mis-sold. ...
Barclays in the spotlight as banking third-quarter results loom image
Source : Guardian [Read Article] Sunday 25th of October 2015 02:00:11 PM
....A progress report is also expected from National Australia Bank on its plans to spin off its Clydesdale and Yorkshire banking operations when it reports its full-year results. A stock market flotation is regarded as the most likely option for the banks, which employ more than 7,000 people and have been knocked by fines and compensation payouts for mis-sold PPI and interest rate swaps. ...

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