| Banks, PPI, PPI Scandal

It has been recently revealed that banks and lenders are still failing customers in their quest to receive the refunds that are rightly owed to them.

Research from the Financial Ombudsman has shown that the numbers of complaints is still significantly high and banks such as Lloyds are the worst offenders for dismissing legitimate claims.

This is not the first time this kind of accusation has been thrown around; all the banks have been guilty of this kind of behaviour. Banks have attempted to delay customer claims in the hope that they’d be dissuaded from continuing their claim.

Lloyds’ figures are definitely counting against them, as the Ombudsman’s figures suggest that a massive 78% of complaints against them were upheld last year.

Lloyds were also a victim to their own figures in the same period in 2014, as 74% of their complaints were upheld. This kind of figure suggests that Lloyd’s attempts at handling PPI complaints are actually getting worse.

The bank isn’t the only offender when using the tactic, credit card companies are leaving little to be desired in this department. With Capital One ruling against 74% of cases that were upheld to the Ombudsman.

There seems to be no way for the banks and lenders to stop consistent streams of cash leaving their coffers in the way of refunds. Despite repeated attempts to try and force the relevant authorities to impose a deadline earlier than the one proposed in 2018. In the mean time we will continue to see these kinds of underhand strategies by the banks in an attempt to lessen the blow of further PPI refunds, which in reality don’t belong to them in the first instance.

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