Category:
Mis-sold PPI

29 May 15

Legal ruling set to create a new wave of PPI complaints

A landmark legal decision by the Supreme Court has led to the City watchdog’s consideration of new rules for Payment Protection Insurance (PPI) Claims. The decision came from the case Plevin vs Paragon Personal Finance in which Susan Plevin, a 59 year old college lecturer, was charged an upfront premium of £5,780 on a loan of £39,870. It was uncovered that 71.8% of this premium was commission, with Paragon taking… Read More »

8 May 15

A sum of £26 billion set aside for mis-sold PPI Costs

The cost of Payment Protection Insurance (PPI) for the whole banking sector is estimated to reach £26 billion. The Daily Express reported that: “The big five high-street banks mentioned above (Santander, HSBC, Lloyds, RBS, and Barclays) are understood to have allocated more than £24 billion* to compensate victims of insurance mis-selling last year.” The total bill, for the whole banking sector, is expected to hit £26 billion after all the… Read More »

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