Category Archive: Finance

Sep 23

FCA Promises Stricter Regulations Against PPI Mis Selling Banks

FCA Chief Executive Martin Wheatley identified but did not name two banks who routinely reject a large proportion of PPI claims and said that the situation was unacceptable. He promised that the FCA will take stricter actions and enforcement to reduce the number of banks trying to stave off legitimate PPI complaints. Wheatley had promised …

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Feb 11

PPI Compensation Claims: Writing Your PPI Template Letter and More

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PPI is a product that banks designed to help you repay your loans in case you get sick or unemployed, but due to its exclusions, many customers cannot make use of the insurance policy they purchased. PPI is an effective product that has become infamous as banks made it a profit-generating vehicle. If you are …

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Dec 20

Customers Not Impressed With Bank Responses to PPI Claims

UK customers continue to criticise banks and financial institutions for not giving payment protection insurance claims enough evaluation time leading to the rejection of the majority of the claims. The Financial Ombudsman, who receives the rejected claims for re-evaluation, confirms that at least 7 out of 10 PPI claims coming from banks are valid. Currently, …

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Nov 26

Payment Protection Insurance: Why the PPI Bill Can Possibly Reach £16 Billion

Financial analysts estimate that the PPI bill can reach a staggering amount of £16 billion by the next year as more citizens are making a claim for mis sold PPI wherein payouts are above the average £2750. With claimants such as “Roberta”, who had received £65,000 for her mis sold PPI, possibly making a claim …

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Jun 25

PPI Compensation – Are You Due a Windfall?

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There are no secrets about PPI compensation now that the authorities have ruled the banks are obliged to pay back charges on mis-sold policies. It is one of the most high-profile financial scandals to hit the consumer finance market for many years. The worrying thing is, if it had not been for the scrutiny of …

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