It is widely reported that the Financial Conduct Authority (FCA) propose to set a deadline of June 2019 for consumers to make a claim for mis-sold Payment Protection Insurance (PPI).
The FCA issued its proposals in August and in a press release its Chief Executive, Andrew Bailey, said:
“Putting a deadline on PPI complaints will bring the issue to an orderly conclusion in a way that protects both consumers and market integrity…. 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 »
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 »
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,… Read More »