Does PPI still Dominate the Ombudsman Workload?

Posted by & filed under Financial Regulators, PPI.

can your bank ask you to return ppi compensation

Several unresolved complaints regarding the mis-selling of Payment Protection Insurance (PPI) are still dominating the in-tray of the Financial Ombudsman Service (FOS). The regulatory body has received nearly 150,000 fresh complaints in all in the past six months up to last December. More than half of them-that is around 78,000- were regarding PPI policies, the… Read more »

The Effect of FSA’s Fine to Banks Regarding Mismanaged PPI Refund

Posted by & filed under Financial Regulators, PPI Deadline, PPI Refund, Uncategorized | Post Categories.

Lloyds bank fine

Banks had been fined by the city watchdog for delaying gripes regarding Payment Protection Insurance (PPI), whilst some of them were on alert to face similar actions. The banks had failed to process a considerable proportion of gripes because of a legal fight between the Financial Services Authority (FSA) and banks regarding how the issue… Read more »

PPI Complaints Dominate FCA Data as Clock Ticks down to Reclaim Deadline

Posted by & filed under Financial Regulators, PPI Deadline, PPI Scandal, Uncategorized | Post Categories.

Consumers have received around £1.9 billion in redress payments in the second half of the last year, with Payment Protection Insurance (PPI) acquiring the top position in the list of most criticised about product, as per the figures published by the Financial Conduct Authority (FCA). The sum total of gripes reported by companies in the… Read more »