Payment Protection Insurance

There has been a huge rise in the number of complaints to the Financial Ombudsman

PPI dominates as FOS reports doubling of financial complaints

Financial complaints doubled to almost 7,000 a day but were still dominated by payment protection insurance complaints which accounted for 74 per cent of the 508,881 cases.

Eric Daniels has defended his role in the mis-selling of PPI

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".

There have been almost 250,000 PPI complaints this year

PPI complaints rise again adding to banks compensation bills

The Financial Ombudsman Service says it has received almost 250,000 complaints about payment protection insurance this financial year and there has also been a rise in catalogue shopping complaints.

The total bill for the mis-selling of PPI could reach £25billion a new report claims

PPI compensation payments could double to £25 billion

A 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.

John Cridland, head of the CBI

CBI chief calls for time limit on PPI claims to help banks

The head of the CBI, John Cridland says that there should be a time limit on PPI claims so banks can concentrate on business that will help the economy.

The Citizens Advice Bureau wants upfront fees from PPI CMC's banned

CAB calls for PPI CMC's to be banned from charging upfront fees

The Citizens Advice Bureau has called for payment protection insurance claims management companies to be banned from charging upfront fees and urges consumers to claim by themselves.

PPI continues to affect Lloyds financial results

Lloyds raises PPI bill by £1 billion up to £5.3 billion

Lloyds Banking Group announced a £144 million loss as it increased its provision for payment protection insurance compensation by £1 billion to £5.3 billion.

The Financial Ombudsman has published details of complaints to UK banks in the first six months of 2012

Lloyds and Barclays are Britain's most complained about banks

The Financial Ombudsman Service (FOS) has published details of the top ten most complained about banks in the first six months of 2012 and Lloyds and Barclays top the PPI-dominated list.

The FOS has reported a rise in successful PPI claims

PPI claims rise by 75% in first six months of 2012

The 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.

The head of the FSA is to conduct a review into how staff are rewarded for making financial sales

Wheatley warns banks they have 18 months to stop mis-selling

Martin 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 has been the biggest financial mis-selling scandal of the last decade

PPI and claims management companies: The inside story

Some 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.

If you were mis-sold PPI, you can apply for compensation yourself

How to make a PPI claim

Latest figures suggest £3.5 billion of the £10 billion set aside for payment protection insurance compensation is still unclaimed. We show you how to claim without using a claims management company.

The FOS says banks are not responding quickly enough to PPI claims

Ombudsman says banks not settling PPI claims quickly enough

The 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 is set to top £10 billion

PPI compensation set to exceed £10 billion

With 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.

PPI provisions 'could reach £8 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 gripes tower over rest of complaints cases

PPI still dominates complaints to financial ombudsman

Payment protection insurance (PPI) mis-selling has once again dominated latest complaints received by the Financial Ombudsman Service (FOS), new figures show.

Banks have agreed to make it easier for customers to find out about PPI

Banks agree to make PPI complaints process easier

Following an investigation by Which? and, banks have agreed to make it easier for customers to find out about payment protection insurance.

60% of Ombudsman cases were about PPI

Financial Ombudsman receives record PPI claims

Six out of every 10 cases handled by the Financial Ombudsman Service in the past year were about the sale of payment protection insurance (PPI).

Lloyds boss attacks 'fraudulent' PPI claims

Lloyds slams PPI claims process as RBS sets aside extra £125m

Lloyds banking Group says that the "harvesting" tactics adopted by claim management companies is unfair and wastes time and money on claims from people who were never customers.

Lloyds raises PPI claims provision

Lloyds makes extra £375m provision for PPI claims

Lloyds Banking Group has set aside an additional £375 million to cover further payment protection insurance (PPI) compensation claims.

Barclays is to raise its provisions for PPI compensation by £300 million

Barclays raises PPI provision by £300m

Barclays has raised its provisions to compensate customers mis-sold payment protection insurance (PPI) by £300 million and RBS is likely to follow suit.

A commitment to help consumers was agreed at the PPI summit, organisers claim

PPI summit agrees commitment to help consumers

The summit organised by Which? and to help consumers make their own claims for PPI compensation will raise awareness and save people money, it is hoped.

Spotlight on fees charged by claims companies

One in four consumers 'unaware of PPI claims fees'

A quarter of consumers claiming for mis-sold payment protection insurance (PPI) did not know that the companies acting for them take a fee, new research reveals.

Consumer groups are launching a campaign to encourage people mis-sold PPI to claim themselves

DIY PPI claim campaign launched by consumer groups

Consumer groups are to launch a campaign to encourage people mis-sold payment protection insurance to manage their own claims and avoid paying up to 25% to claims management companies.

Banking sector 'set for further jobs cuts'

Further job losses expected in banking sector

The UK’s five biggest banks are to cut more jobs after profits were hammered by PPI claims, the euro debt crisis and higher regulatory costs, a report reveals.

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