Misselling
SSE boss to get £400k pension as he refuses to resignOne of the "big six" energy suppliers, SSE has been fined £10.5 million by the energy regulator Ofgem for lying to potential new customers and mis-selling. |
Lloyds PPI loss to increase to £6.5bn on tomorrow's resultsLloyds Banking Group is expected to announce a loss for 2012 when it publishes its latest financial results tomorrow partly due to raising its total PPI compensation bill to £6.5 billion. |
Lloyds Bank receives 4,000 PPI complaints a day in 2012Lloyds Banking Group received almost 4,000 complaints about payment protection insurance a day in 2012, it has been revealed as the bank prepares to announce its results. |
Lloyds Banking Group fined £4.3m by FSA for PPI payment delaysThe regulator, the Financial Services Authority has fined Lloyds Banking Group £4.3 million for delays in making payouts to customers due payment protection insurance compensation. |
Lloyds PPI boss Eric Daniels defends PPI as "good value"The man who was in charge of Lloyds Banking Group during much of the period when payment protection insurance was mis-sold has told MPs that most customers "got good value". |
Barclays add £1 billion to mis-selling provisionsBarclays has increased its provisions for the mis-selling of interest rate hedging products and payment protection insurance compensation by £1 billion. |
FSA launch inquiry into annuity marketThe Financial Services Authority has launched an inquiry into the annuity market to investigate whether customers are being encouraged to scour the market for the best deal. |
Court denies Barclays anonymity request over Libor caseHigh profile names at Barclays including former chief executive Bob Diamond have been denied anonymity at a forthcoming trial over the mis-selling of interest swap rates linked to Libor. |
FOS to employ 1000 new staff as PPI complaints soarThe Financial Ombudsman Service is planning to recruit an extra 1,000 staff to cover the huge rise in complaints referred to it over PPI compensation claims. |
PPI compensation payments could double to £25 billionA new report by the Times newspaper suggests that the total bill to UK banks for the mis-selling of payment protection insurance could reach £25 billion. |
FSA fine over PPI damages Co-op's image as "ethical" bankIn a ruling that could be extended to other banks the Financial Services Authority has fined the Co-op £113,300 for putting PPI complaints on hold during a high court case. |
Which? research finds "big five" banks still pushing for salesA new survey by consumer group Which? has found that despite numerous mis-selling scandals, bank sales staff feel under more pressure than ever to sell to customers. |
NatWest and RBS pull out of interest-only mortgage marketTwo other major lenders, NatWest and RBS have pulled out of the interest-only mortgage market with experts predicting that they could become a niche product. |
Barclays to increase PPI provision by £700m to £2 billionBarclays Bank has announced that it will increase its provision for payment protection insurance compensation by £700 million to £2 billion in its third quarter accounts. |
FCA to focus on customers to prevent mistakes of the pastThe head of the FSA and the man who will take charge of the UK's new financial regulator, the Financial Conduct Authority, has said proposed reforms will not be watered down. |
Barclays tops bank complaints tableThe Financial Services Authority has published details of customer complaints about banks in the firsy half of 2012 and it reveals a 129% increase in PPI complaints. |
Every UK family loses £430 a year in bank and finance rip-offsA new report reveals how sneaky bank and financial services scams, mis-selling and rip-offs costs each UK family £430 a year with the poor paying disproportionately more. |
PPI claims rise by 75% in first six months of 2012The Financial Ombudsman Service (FOS) says there has been a big rise in PPI complaints in the first half of 2012 and 71% of PPI complaints are upheld in favour of the consumer. |
Wheatley warns banks they have 18 months to stop mis-sellingMartin Wheatley, head of the Financial Services Authority said in a speech today that UK banks have 18 months to prove they no longer mis-sell products or face "intrusive" action. |
PPI and claims management companies: The inside storySome Claims Management Companies (CMCs) have a bad reputation and Which? has campaigned against them. I put some questions to Craig Lowther, managing director of a CMC, MoneyBoomerang to get his take on the common criticisms. |
Is the end of free banking imminent?A new report from Which? says that free banking is a myth and the suggestion that bank charges should be higher to avoid more scandals like PPI "defies logic." |
Ombudsman says banks not settling PPI claims quickly enoughThe Financial Ombudsman Service warns that it is receiving 1,500 complaints a day and that banks are not responding to customer complaints quickly enough. |
PPI compensation set to exceed £10 billionWith the "big five" banks announcing interim financial results that include extra provisions for compensation payments the total set aside by the banks for the mis-selling of PPI is set to top £10 billion. |
UK banks 'face further £1bn bill for PPI mis-selling'The UK’s top four banks look set to announce a further £1 billion of charges for mis-selling payment protection insurance (PPI). |
PPI still dominates complaints to financial ombudsmanPayment protection insurance (PPI) mis-selling has once again dominated latest complaints received by the Financial Ombudsman Service (FOS), new figures show. |
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