Lloyds Banking Group announced in its Half-Year Results that it had set aside £460m (including Administration costs) for Payment Protection Insurance (PPI) claims.
This significant increase brought Lloyds’ PPI provision to £2.0bn (including Administration costs) and its total bill for PPI mis-selling is reported to stand at £19.2bn (including Administration costs).
Lloyds expect to receive 13,000 PPI complaints per week until the 29 August 2019 deadline,… Read More »
Since August 2017, lenders have been required to follow guidance from the Financial Conduct Authority (FCA) surrounding a court ruling known as Plevin when dealing with claims for PPI – regardless of whether the policy was deemed to have been mis-sold or not. The guidance set out that lenders should also consider if a commission had been paid out of the PPI premiums and whether the commission amount was fair…. Read More »
Payment Protection Insurance (PPI) remains to be the most complained about financial product, making up a third of the total 3.32million complaints in the first half of 2017.
The latest figures from the Financial Conduct Authority (FCA) show that £271.5 million was paid out in August to customers who complained about the way they were sold PPI, the largest monthly pay-out so far this year…. Read More »
“The FREE PPI Check was easy and straight forward. The Claims Guys are very efficient. I’m amazed at what they found as I didn’t have the paperwork. I have recommended you to a lot of people.” 22.10.17… Read More »
“I found the FREE PPI Check easy to follow and the forms were simple to fill out. I wouldn’t have known where to start with the whole process. The Claims Guys kept me informed throughout and I’m very happy with the outcome.” 21.10.17… Read More »
The Financial Conduct Authority (FCA) has set a deadline of 29 August 2019, for making new Payment Protection Insurance (PPI) complaints.
The deadline is aimed to prompt customers to make a decision on whether they want to make a complaint or not.
Andrew Bailey, Chief Executive of the FCA said:
“Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. … Read More »
To date, The Claims Guys (TCG) has helped customers to claim back over £364million for mis-sold Payment Protection Insurance (PPI).
It is widely reported that the volume of claims submitted for mis-sold PPI will start to slow but it is not a trend seen at TCG. We continue to help our customers claim back the money they are owed and we’re currently processing around 25,000 claims a week…. Read More »
Lloyds Banking Group has revealed that its total bill for mis-sold payment protection insurance (including Administration costs), will jump a further £1.4 billion as the lender announced additional provisions during the first half of 2015. The figures were released on 31st July as part of the half year results. This brings Lloyds’ total PPI bill (including Administration costs) to £13.4 billion, which is the highest of any British bank…. Read More »
It has emerged this week that the Financial Ombudsman Service (FOS) received 4,000 payment protection insurance (PPI) complaints every week during April to June of 2015. The figure has emerged as part of a statement released by FOS on Tuesday 21st July, in which they published a snapshot of complaint figures for the first quarter of the 2015-2016 financial year. Chief Ombudsman, Caroline Wayman, sent out an email statement,… Read More »
Lloyds Banking Group has been fined £117m, the largest retail banking penalty ever imposed by the Financial Conduct Authority (FCA).
The FCA led an investigation into Lloyds’ complaint handling procedures carried out between March 2012 and May 2013. During this period, Lloyds handled over 2.3m PPI complaints, and 37% of these were dismissed, with customers wrongly told that their case had been ‘fully investigated’ when this was not the case…. Read More »