World’s Largest Banks Face £264bn Bill for Poor Conduct

Posted by & filed under Banks, Financial Regulators, Lloyds PPI Claim, PPI, PPI Scandal, Royal Bank of Scotland PPI Claim.

worlds largest PPI banks

Legal bills, fines and expense of compensating mistreated consumers has reached around £264bn for 20 of the world’s largest banks for over five years up to 2016, as per the new research, which raises doubt regarding the efforts put in by major financial services players in order to restore trust in the sector.   This… Read more »

Sales Company that made 22 Million Nuisance Calls about PPI & Injury Claims receives Huge Fine

Posted by & filed under Financial Regulators, PPI, PPI Scandal.

A sales company that has made around 22 million nuisance calls regarding PPI and injury claims has been fined £270,000 by the FCA. This is considered as one of the biggest penalties of its kind ever issued.   As per the investigation conducted by the “Information Commissioner’s Office” (ICO), all the automated calls were traced… Read more »

Lloyds Bank to Refund £300m to 600,000 Customers for PPI and Mortgage Arrears Failures

Posted by & filed under Banks, Financial Regulators, Lloyds PPI Claim, PPI, PPI Scandal.

Lloyds Banking Group has taken nearly a £1 billion hit after revealing it will refund customers for failing to handle mortgage arrears policies and has set aside additional money in order to address the mis-selling of Payment Protection Insurance (PPI).   The provider estimated that it’ll have to shell out roughly around £283 million so… Read more »

Brexit, PPI and High Cost Credit are Top Priorities for City Regulator

Posted by & filed under Financial Regulators, PPI.

Brexit and PPI

The city watchdog has promised to make sure that financial firms stay strong in the face of Brexit in its yearly list of priorities and this even involves shielding vulnerable consumers from excessively expensive loans. The Chief Executive of Financial Conduct Authority, Andrew Bailey mentioned that, the watchdog’s solicitors were examining EU financial sector regulations… Read more »