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PPI Victims underpaid by £1 BILLION

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5th June 2014

PPI compensation victims have been reportedly underpaid by £1bn due to banks and credit card firms excluding penalty fees and charges from compensation calculations.

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Posted in Payment Protection Insurance, PPI, Compensation, Lloyds Banking Group, Barclays, MBNA, Capital One, mis-sold PPI, Financial Ombudsman Service, FOS, PPI Premiums

Barclays launches investigation into PPI calculation errors

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16th April 2014

An investigation has been launched into Barclays after a whistleblower warned of serious errors in the way taxation of interest paid to those handed PPI compensation is being calculated.

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Posted in PPI, Barclays, Financial Ombudsman Service, Financial Conduct Authority, PPI Compensation

Ombudsman still receiving 1000 complaints a day on PPI mis-selling

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6th March 2014

More than 1000 complaints a day about mis-sold PPI continue to be sent to the Financial Ombudsman Service.

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Posted in Complaints, Financial Ombudsman Service, FOS, PPI, Bank of Scotland, Barclays, MBNA, HSBC, Lloyds TSB

PPI provision to drive Barclays to third quarter loss

18th October 2012

Barclays has warned it will make a loss for the third quarter after revealing a shock £700m provision against payment protection insurance compensation claims that takes the total set aside by the bank to £2.1bn.

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Posted in PPI, Barclays, UK, Banking