PPI Claims News

Banks Continue To Drag Heels Over PPI Payments

17th March 2012. Despite many customers receiving letters detailing their entitlement to PPI compensation, reports suggest these payments are still being delayed as banks continue to drag their heels. Approximately 12 million customers have been contacted by banks and lenders about the scandal over recent months but unfortunately, whilst these letters inform customers of their entitlement, the payments remain delayed with some individuals still waiting for the funds months later. This is partly due to the fact that whilst there are guidelines over how long banks can take before responding to a complaint there are no such regulations for payment timeframes. The Financial Services Authority (FSA) who issue these guidelines have admitted their reluctance to instigate new rules to address this concern, claiming the implementation process involved would delay payments further. According to reports, instigating the new rules could take as long as six months and this would hardly give customers the prompt resolution they are looking for.

On top of this, the FSA has revealed that only £2 billion worth of compensation was paid to customers last year - a figure which is thought to represent just one quarter of the £8 billion owed to customers. It is therefore hardly surprising that many customers are still seeking compensation years after the mis-selling scandal was first brought to public attention in 2005. Although claims can be processed independently, the number of individuals using dedicated claims companies has risen over recent months. This is because the process offered by these firms can be seen as more convenient, helping customers to gain the compensation they deserve without leaving them to face what may seem like a never-ending struggle with difficult banks and lenders alone.

PPI Claims Remain High Despite Greater Consumer Confidence In Banks

6th March 2012. According to the latest news surrounding the PPI mis-selling scandal, consumer confidence in banks is growing whilst PPI claims remain high. According to figures, the overall number of complaints has fallen for some banks despite the growing number of PPI claims which are being made. Those commenting on the situation have labelled this as a positive step for banks, suggesting it demonstrates their commitment to rectifying problems and compensating their customers. One bank to have recorded this trend is Barclays, with their overall banking complaints falling by almost a third in the last half of 2011. The total number of complaints received between July and December stood at just over 146,000 - a 31% decrease from the same period in 2010 and a 10% decrease from the 162,611 complaints made in the first half of 2011.

The Chief Executive of Barclays Retail and Business Banking, Antony Jenkins, commented that these figures showed the banks "commitment to put[ting] customers at the heart of [their] business" and named tackling complaints as their "top priority" for the future. In terms of PPI claims, the bank saw a notable increase meaning that as these claims thrive, overall complaints are diminishing. The bank received almost 123,000 complaints on general insurance and pure protection in the second half of 2011 - a 12% increase from the first half of the year and almost double the 59,003 complaints made in the latter half of 2010. These figures not only suggest that this is the perfect time for those affected by the mis-sold PPI to claim compensation, but could indicate that an easier claiming process has increased consumer satisfaction, leading to a reduction in the number of overall banking complaints.

George Osborne Urged To Force Banks To Pay-Up For PPI Errors

2nd March 2012. As Brits continue to seek compensation for mis-sold PPI products, claims agencies are urging Chancellor George Osborne to impose deadlines on banks to force them to pay-up. Claims for mis-sold PPI underwent increases recently as court decisions meant banks were pushed into paying the compensation which their customers rightly deserve. Unfortunately, the time frame of claims varies from case to case and some banks and lenders have been accused of dragging their feet when it comes to making payments. This means that even those who have had their claims settled in their favour have been left waiting for their compensation - meaning that the PPI mis-selling scandal is far from resolved.

Claims agencies, who are reported to be handling the vast majority of customer complaints for mis-sold PPI, have therefore called for this issue to be addressed - urging Osborne to impose deadlines which will prompt a quicker resolution for all involved. 2012 is already expected to be the most expensive year for PPI payments with experts anticipating that more than £4 billion will be paid out to affected customers. This will put the running total of PPI claims in the region of £8 billion. Commenting on the decision to push banks into making faster payments, PPI specialist Michael Pilgrim explained that the action "could accelerate the fiscal stimulus these payments are creating, putting money in consumers' pockets and boosting spending at a time when the economy really needs it".

FSA's PPI Deal Lowers Complaints And Increases Success

1st March 2012. According to recent reports from the Financial Ombudsman Service (FOS), the number of PPI complaints they received at the end of 2011 was lower than expected, suggesting a PPI deal made by the Financial Services Authority (FSA) has been effective. The deal which was struck between the FSA and implicated banks gave lenders an extended period of time in which to handle the backlog of claims which they were struggling to address. This means that banks are able to take the time needed to investigate and resolve cases which they receive, meaning that consumers are no longer reliant on the FOS for their complaints. The Chief Executive and Chief Ombudsman for the FOS, Nathalie Ceeney, showed support of the recent report by stating the body "hope[s] to see all businesses who were involved in PPI mis-selling resolving customer complaints fairly, properly and quickly."

In total, the FOS received 46,700 complaints on PPI between July and December 2011, whilst the six month period preceding this saw more than 98,000 complaints made about the mis-sold product. Nowadays, many of these claims are handled by dedicated claims agencies or firms who are able to determine whether the FOS needs to be consulted. Previous figures have already revealed that 89% of claims for mis-sold PPI are upheld after being rejected by banks. The news that banks are now resolving more of their cases means that claims agencies, and claimants, will now be able to benefit from an easier claiming procedure that may even be quicker - with the use of the FOS usually postponing the claim settlement.

The History of PPI Mis-Selling

23rd February 2012. With many customers still awaiting compensation, the scandal surrounding PPI mis-selling is far from over. Despite the slow progress, developments are being made and the current situation is far more favourable for these seeking reparation - but what has changed? The original detection of the scandal did not occur until nearly a decade ago, when super complaints were lodged by the FSA and the Citizens Advice Bureau. In 2005, the FSA began handling the situation by issuing guilty banks and lenders with penalties and fines. 5 years later, and the FSA published their rules on repayments in 2012. The British Banking Association (BBA) challenged this with court action and despite a ruling which favoured the FSA, vowed to lodge an appeal.

This promise was broken just five months later, when the BBA dropped all legal action in May 2011. It was at this point that the majority of PPI claims were lodged and over £1 billion was paid to claimants in the first ten months of 2011 alone. This created the perfect environment for PPI claims and a number of individuals chose to use PPI claims agencies to accomplish this. Yet despite the improvement, the FSA claims millions of people are still waiting to have their case investigated, whilst those who have been successful may still be waiting for their payment. A PPI specialist explained that banks and lenders must abide by strict deadlines when handling claims, but do not have similar restrictions imposed when it comes to paying up. Speaking on the matter, an FSA spokesman emphasised that "people will get their money" but explained the organisation wants it "done it a way that's right and not rushed" to prevent customers from getting short-changed once again.

Banking complaints down over 30% as Barclays targets further significant reductions

22nd February 2012. Barclays today publishes customer complaint numbers for the 2nd half of 2011 (1 July to 31 December) which show the bank has substantially driven down volumes by addressing the root causes of complaints.

In the banking category there has been a 31% reduction in complaint volumes for the full year 2011 compared to the year before. Figures for the 2nd half of the year at 146,316 are also down 10% versus the first half figure of 162,611 recognising continued momentum in reducing complaints.

The figures demonstrate that Barclays focus on putting the customer at the heart of our business is gaining traction with significant and sustainable reductions in complaint volumes. Barclays acknowledges that complaint volumes are still too high and say they will continue to address complaints at root cause. Barclays is aiming to deliver further significant reductions in the 1st half of 2012 (excluding PPI).

The most significant exception to the overall progress they are making to reduce complaints is in the General Insurance and Pure Protection category, of which the majority of complaints are related to PPI. Excluding these complaints overall volumes of complaints are down 29% in 2011 compared to 2010. Complaints for the 2nd half of 2011 at 158,492 are also down 11% compared to the first half figure of 177,871 (up 12% half on half including PPI).

Antony Jenkins, Chief Executive of Barclays Retail and Business Banking said:“We made a commitment to put customers at the heart of our business and improve customer service. Tackling complaints is our top priority and today’s figures show real sustained progress on delivering on our commitments, with a reduction of over 30% in Banking complaints.

Complaint volumes are just one measure of customer service and satisfaction. Looking at other measures other than FSA Reportable Complaints also show positive improvements in customer service. Barclays UK customer satisfaction ranking has risen from eleventh in 2007, to fourth. Internal surveys also show branch and telephony satisfaction scores hit their highest levels ever in 2011 at 92% and 82% respectively.

89% of FOS Handled Claims Are Upheld After Initial Rejection

8th February 2012. According to data, 89% of FOS handled claims for mis-sold PPI (payment protection insurance) which are rejected by banks and lenders are later upheld. The current state of affairs concerning mis-sold PPI has seen millions of Brits affected, with the estimated bill for UK lenders exceeding £5 billion. This means numerous individuals who were affected by the mis-selling scandal are entitled to claim for the money which they paid, but unfortunately this is not always easy. As banks and lenders stand to lose large sums of money from this fall-out, they are often found to reject claims or to offer 'goodwill' payments which do not reflect the severity of the situation. For consumers, this is far from ideal and many people now choose to use claims agencies instead, being reluctant to place their trust in a band or lender that has already let them down before.

Of claims that are rejected, 89% are later upheld in favour of the claimant - something claims agencies can help with. These firms will handle the claim on behalf of individuals, referring the case to the Financial Ombudsman when necessary. The Financial Ombudsman is an independent service which handles some cases, penalising banks and lenders who delay decisions through an increased fee system they recently announced. Claims agencies can refer cases to this service where necessary, handling the necessary paperwork and procedures for each individual case. This means claimants can obtain the compensation they are entitled to without being inconvenienced by lengthy procedures or apathetic lenders or banks.

PPI Losses To Be Taken From Banking Bonuses

23rd January 2012. According to the Financial Times, banks are being encouraged to take losses caused by the PPI mis-selling scandal from their bonuses. The report revealed how the Financial Services Authority (FSA) had encouraged this action, feeling that banks should reflect the losses which have been incurred through an alteration to their bonuses. Bonus payouts for 2011 are set to be calculated by banks, with the FSA urging them to consider the amount of money spent on compensation for PPI reclaims when making this decision.

FOS face questions over PPI claim changes

15th January 2012. The FOS (Financial Ombudsman Service) face questions from banks over intended changes to their PPI claim system which could see banks face higher bills. The FOS is an independent body which handles PPI claim cases on behalf of claimants, charging banks a set fee per case.

PPI Scandal Continues To Gather Pace As A Record Number Of Cases Remain Unsolved

14th January 2012. New figures have shown that a vast number of mis-sold PPI cases remain unsolved as banks and lenders fail to compensate affected customers.

PPI Consultation Could Impair Protection Industry

13th January 2012. According to Steve Devine, Chairman for the trade body Protect, the current consultation over PPI could have a negative impact on the protection industry if they fail to respond. The Financial Services Authority and Office of Fair Trading are currently consulting over PPI products, following the ongoing scandal which saw millions of consumers mis-sold the product.

Cashflow’s New Year Finance Fixes

4th January 2012. While some insurance, such as income protection or mortgage payment protection may be worth forking out for, others, like credit card payment protection insurance were often mis-sold and unwanted in the first place. Many do not even realise they're paying these premiums... PPI Reclaims News

PPI Policyholders Receive £1 Billion Compensation

21st December 2011. More than £1bn was paid in the first ten months of this year to customers complaining they have been mis-sold PPI, the financial services regulator (FSA) has announced. The month is the most recent for which the figures are available. The compensation was paid by sixteen unnamed firms, accounting for 92pc of PPI complaints in the first half of 2011... PPI Claims News

Ombudsman PPI Claims Soar

21st Novemeber 2011. In its latest industry newsletter, the Ombudsman has described how the organisation had seen the number of PPI complaints climb from less than 1,000 per week to over 3,000 in recent months. Banks and other financial businesses involved have already received a million PPI complaints this year, and the Ombudsman is predicting a similar number for 2012... Ombudsman PPI Claims News

Lloyds In Red After PPI Cost Wipes Out Their Profit

8th Novemeber 2011. The misselling of Payment Protection Insurance (PPI) has put a serious dent in the earnings of Lloyds Banking Group. Overall Lloyds made a loss of £3.85bn. This is mainly because the bank took a hit of £3.2bn on the cost of paying compensation to customers who were wrongly sold PPI... Lloyds PPI Claims News

Tesco PPI: Tesco’s banking arm casts shadow over results

16th October 2011. Tesco has revealed that its push into financial services had suffered twin setbacks, casting a shadow over a 12 percent increase in 1st-half profit achieved in the face of tough UK trading conditions. Tesco took a £57 million charge to cover alleged misselling of payment protection insurance (PPI), a controversial form of loan cover that has become an industry-wide scandal... Tesco PPI Claims News

Barclays tops UK complaints list against banking brands

28th September 2011. More complaints were made about Barclays than any other bank by UK customers in the 1st half of the year, FSA figures show. However, Lloyds Banking Group had larger complaints figures when all its banking brands were added together. Other brands high on the list include Santander and NatWest, using figures released in recent weeks by banks... Barclays Complaints News

Payment Protection Scandal Rumbles On

18th September 2011. Millions of customers have now realised that for many years banks have made a killing from selling expensive PPI to people taking out loans – whether or not it was appropriate. It became so profitable for banks to sell PPI that many customers ended up paying for it without even realising... Bank PPI Claims News

Banks pay out £215m in PPI refund claims

3rd September 2011. Barclays has allocated £1bn to cover compensation claims over PPI. The financial sector paid out £215m in compensation to victims of the PPI mis-selling scandal in the 1st half of the year, the FSA said. The industry returned £102m in May and June after the British Bankers Association (BBA) lost its High Court challenge against PPI compensation rules being applied retrospectively, the City regulator said... FSA Claims News

NatWest Customer Claims Rise by 75 Percent

1st September 2011. Complaints for insurance-related products at Nat West rose during the past year, increasing by 227 percent. PPI accounted for 31 percent and 47 percent of all complaints at NatWest and RBS respectively. RBS said earlier this year it had set aside £850 million to pay PPI claims... NatWest Claims News

PPI claims rise at RBS group

1st September 2011. The RBS group, including NatWest, has set aside £850m to pay its PPI mis-selling claims bill. Claims for the mis-selling of payment protection insurance (PPI) have surged at RBS and NatWest. In the first half of the year, PPI gripes made up 31 percent of all NatWest complaints and 47 percent of those to RBS. They pushed total NatWest complaints up 24 percent to 147,109 and RBS complaints up 27 percent to 68,414... RBS PPI Claims News

HSBC risks FSA action after missing PPI claims deadline

31st August 2011. HSBC looks set incur the wrath of the Financial Services Authority (FSA) after missing the deadline to clear its backlog of PPI misselling claims... HSBC PPI Claims News

Barclays: PPI complaints 'To Keep Rising'

9th August 2011. Barclays was one of the first to say it would settle PPI claims. Barclays Bank is expecting PPI claims to continue to rise after a 93% increase in the 1st half of the year. Barclays says that PPI claims had soared after banks lost their legal challenge on PPI rules in April. It received over 73,000 insurance claims, mostly about PPI, up from 38,000 in the same period of 2010. Overall, Barclays saw a 14% drop in complaints about its services... Barclays PPI Claims News

Northern Bank Records £90m Losses

9th August 2011. Northern Bank has recorded pre-tax losses of more than £90 million in the first six months of the year. The bank was again affected by costs associated with bad debts, absorbing around £112 million in loan impairment charges. It would have made a profit of £27.5 million if it was not for those charges and an additional £6 million set aside for potential PPI claims... Northern Bank PPI Claims News

Financial Ombudsman Service reports record-breaking financial claim figures

2nd August 2011. The Consumer watchdog Financial Ombudsman Service saw a record number of financial services claims - 81,000 in the quarter to June - double the amount last year. Complaints about PPI accounted for the majority, or 69%, but mortgage complaints crept up to 2.5% in fourth place, after credit cards at 7% and current accounts at 4%... Ombudsman PPI Claims News

The City braces itself for dip in banks' profits

31st July 2011. The big four banks will bear the scars of the PPI scandal this week when they are expected to unveil slipping half year profits. Lloyds, Barclays, RBS and HSBC are expected to show a weak 6-month period... Bank profits: PPI Claims News

PPI charge hits Santander UK profits

27th July 2011. Santander UK has said that it has set aside more than half a billion pounds to cover the costs of PPI claims. Profits after tax and the PPI charge were £300 million. Santander is the latest bank to reveal its PPI charge after Lloyds made a provision of £3.2 billion, RBS set aside £850 million, Barclays £1 billion and HSBC earmarked £270 million... Santander PPI Claims News

Corporate giants must not fob off victims

24th July 2011. The Arch Cru fiasco is a blot on the financial services industry landscape and joins the long list of shame including the recent mis-selling of PPI and the split capital investment trust scandal of the late nineties. Though its impact is nowhere near on the scale of PPI or splits, it does not mean that those investors caught up in this financial disaster should be forgotten... Arch Cru News

Financial compensation payments increase

1st July 2011. The Financial Services Compensation Scheme (FSCS) annual report showed that it paid out £535m, driven partly by the failure of Keydata and as a result of PPI claims. The scheme is expecting a large volume of claims relating to PPI in the coming year, after 20% of new claims in the last financial year were about PPI. Some sellers of the PPI insurance, which in many cases was missold, subsequently went bust, leading to the claims... FSCS PPI Claims

FCA will have "lower risk tolerance" than FSA

26th June 2011. The FSA said the incoming regulator, the FCA, would have powers to spot and eliminate issues earlier: "In response to the misselling of PPI, the FSA has intervened robustly to secure redress of consumer detriment... FSA PPI

Which PPI: PPI scandal: BBA says "We did nothing wrong"

30th June 2011. Nearly 2 months after abandoning its legal battle over PPI misselling, the British Bankers' Association (BBA) is still trying to defend the banks behaviour. "We felt we had complied entirely of what was required," the BBA, told the audience at an event hosted by consumer group Which?... Which PPI: BBA PPI Claims

Manchester: Misselling of PPI sparks complaints to Ombudsman

28th June 2011. Claims over misselling of PPI and excessive current account charges sparked a surge in the number of complaint claims to the Financial Ombudsman Service (FOS) by people living in Greater Manchester in the 12 months to March... Manchester PPI Claims

FSA Bid To Nip Dodgy Financial Products In The Bud

26th June 2011. A bugbear that sparked concern for the FSA was the mis-selling of PPI. A vigilant approach to the monitoring of investment products would guard against a repeat performance of such a scheme. In the case of PPI, it took several years to achieve appropriate redress for consumers... FSA PPI

BBA Comment on PPI Judicial Review

24th June 2011. The British Bankers' Association comments on the PPI misselling judicial review saying "We did what our members required. The BBA did not sit in a room and decide it was going to take a case, the industry decided that a case needed to be taken because some of what was being proposed by the FSA in the way that a bank or any other seller of PPI had delivered cases, was retrospective. In the end where you have a legal uncertainty ultimately you have to go to court"... BBA Comment on PPI

Data management rules must be upheld for PPI complainants

22nd June 2011. The Information Commissioner's Office has said that banks need to do more to fulfil their obligations to give customers access to their records. Their comments were prompted by the recent ruling into the mis-selling of PPI which deems all customers are entitled to compensation if a bank's product was mis-sold. This has created a surge in customers requesting access to the information banks hold about them... Bank PPI Data News

Banks under pressure to follow Barclays' PPI claims approach

18th June 2011. Barclays' PPI compensation claims offer should be followed by Lloyds, RBS and HSBC, says Which chief executive. Rival banks, including HSBC, RBS and Lloyds have been urged to follow Barclays's lead over PPI compensation claims... Barclays PPI Claims

FSA grants HSBC extension for PPI complaints

16th June 2011. The Financial Services Authority (FSA) has granted HSBC a temporary extension to complete processing PPI claims. The FSA has suspended its normal 8 week PPI claims complaints deadline for HSBC along with RBS, Barclays and Lloyds... HSBC PPI Claims

FSA grants temporary extension for some PPI complaints

13th June 2011. The Financial Services Authority (FSA) today agreed to temporary arrangements for Barclays, Lloyds Banking Group and RBS to handle PPI complaints. The arrangements extend the time periods the firms have to deal with their backlog of stayed PPI complaints and the high volume of new complaints on PPI. These arrangements have been put in place to ensure that the firms are able to handle the PPI complaints properly... FSA PPI Claims

Banks should follow Barclays' lead on PPI, says Which?

13th June 2011. As Barclays announces that it will be compensating customers who were mis-sold Payment Protection Insurance (PPI) on a no questions asked basis, Which says: "Banks have a lot to do to re-build their reputation after over a decade of misselling PPI and then mishandling complaints about it. It's fantastic to see Barclays stepping up in this way, acknowledging their mistakes and refunding customers what they're owed, no questions asked"... Which PPI Claims

Barclays Agrees to Pay Customers PPI Claims

13th June 2011. Barclays bank will reimburse the full PPI premiums plus 8 percent interest to customers whose claims were put on hold during the banks' court challenge. Barclays will compensate customers sold PPI without being told they could buy it from another lender, the bank said today. The BBA, the banking industry group, lost a court challenge in April to the FSA's PPI guidelines... Barclays PPI Claims

PPI for unemployment

6th June 2011. Mis-selling of expensive PPI for unemployment alongside bank loan products has been rife. Lenders such as Alliance & Leicester (now owned by Santander) and HFC Bank have had huge fines. Moreover, the cliche of "if you can pick up the pen to fill in the claim form, you're well enough to go back to work", means payments are not always protected... Unemployment PPI

PPI broker collapses in misselling scandal

1st June 2011. Wilmslow Financial Services (WFS) had been managing the wave of claims lodged against it from former clients who had taken out PPI alongside loans with Freedom Finance. The company ceased to offer new loans last year... PPI broker collapses

PPI claims may trigger bank staff crisis

23rd May 2011. Banks may need to re-deploy key staff from their mortgage departments to handle mis-sold payment protection insurance claims, according to a customer complaints handling expert. Banks are reportedly looking to take on 6,000 staff as well as redistribute existing employees to cope with the high volume of PPI claims expected... Bank PPI Claims Staff Crisis

Clydesdale adds extra £100m for PPI claims

20th May 2011. Clydesdale Bank and its sister UK operation, Yorkshire Bank, yesterday revealed they will take an extra £100 million provision against the misselling of PPI... Clydesdale and Yorkshire Bank PPI Claims

Lloyds considers clawing back bonuses over PPI provision

19th May 2011. Lloyds are believed to be considering offsetting some of its provision for payment protection insurance (PPI) mis-sales by clawing back bonuses... Lloyds PPI Claims

PPI complainants may miss claims deadline

18th May 2011. Thousands of people missold PPI could lose out on compensation if they miss a complaints claim deadline. Some complainants may be able to reissue their PPI claim even if they've previously had it rejected and not taken it to the ombudsman... PPI Claims Deadlines

Current account fees loom as banks fix £10 billion PPI claims hole

15th May 2011. Banks could be gearing up to pile on the charges misery for millions of customers as they look to recover the estimated £10 billion cost of payment protection insurance (PPI) claims... Banks PPI Claims

Banks to hire 6,000 to handle PPI Claims

11th May 2011. Lloyds, RBS, HSBC and Barclays are facing massive staff costs and admit £5bn is needed to compensate PPI customers. Lloyds is among the High Street banks facing huge staff costs for dealing with customers over missold PPI, and has announced a £3.2bn provision. The banks are preparing to hire up to 6,000 workers to deal with claims complaints from millions of customers wrongly sold PPI... Banks PPI Claims

HSBC first quarter profit hit by PPI claims provision

10th May 2011. HSBC's profits fell 14pc in the 1st 3 three months of the year, as the bank was hit with a provision to cover compensation claims for customers mis-sold PPI and a series of restructuring charges... HSBC PPI Claims

Press Release: Citizens Advice response to BBA announcement on PPI Claims

9th May 2011. The Citizens Advice (formerly know as Citizens Advice Bureau) has said: "At long last the banks have decided to do the right thing in accepting that they must compensate the huge number of customers who were missold PPI policies that were far too expensive and completely unsuitable for their needs." They continued, "It is now up to the banks to deal with claims quickly. The onus should be on them to contact all those affected rather than wait for customers to claim. It's also vital that both banks and regulators learn the lessons of PPI to ensure a similar scandal on this scale cannot be allowed to happen again." In September 2005 Citizens Advice made a super complaint to the Office of Fair Trading (OFT), calling on them to launch an investigation into the PPI business, which, at that time had an estimated 20 million policies in force. Protection racket CAB evidence on the cost and effectiveness of payment protection insurance, the report on which the super complaint was based, is available on the Citizens Advice website: ... Citizens Advice PPI Claims

Millions in line for PPI claims redress

9th May 2011. More than 3 million people are in line for compensation after the banks abandon legal battle over the mis-selling of PPI... PPI Claims

RBS hits out at Lloyds over cave-in on PPI

6th May 2011. RBS has taken a swipe at Lloyds over its decision to break ranks over the PPI mis-selling scandal. RBS said their fellow lender was wrong to withdraw from a possible challenge over a PPI ruling, which is expected to cost UK banks £9 billion... RBS PPI Claims

UK bank PPI claims costs could rise to £10bn

6th May 2011. Bankers suggest PPI claims payments and costs could rise to £10bn, more than double the FSA's original estimate of £4.2bn. Lloyds has made a provision of £3.2bn for PPI claims... Banks PPI Claims

RBS cannot estimate total PPI claims bill

6th May 2011. RBS said today it could not reliably estimate total liabilities for PPI sales. The announcement comes the day after Lloyds said it had made a provision of £3.2bn for PPI claims... RBS PPI Claims

Lloyds will settle PPI claims

5th May 2011. Lloyds have announced that it will settle PPI claims, raising consumer hopes that other high street banks may soon do the same. The bank has pulled out of legal action to stop the payout and will re-open all PPI claim cases currently on hold... Lloyds PPI claims

FSA victory heralds end of unfair PPI practices

3rd May 2011. The failure of banks to force a judicial review of the Financial Services Authority's payment protection insurance rule changes last month is widely viewed as a victory for consumer protection. In September 2009 the FSA revealed a package of tough measures to protect consumers in the PPI market and ensure they were better treated when buying the insurance or complaining about it... FSA PPI claims

Which PPI: Which? calls on banks to follow Lloyds in admitting PPI defeat

5th May 2011. As Lloyds Banking Group reveals that it's withdrawn from the legal dispute with the FSA over PPI and has set aside £3.2bn to repay customers who were missold to, Which? executive director, Richard Lloyd, says: This is great news for the millions of Lloyds customers who have been mis-sold PPI. It is refreshing to see a bank break ranks from its peers and do the right thing by its customers... News: Which PPI: Lloyds PPI Claims

Press Release: Citizens Advice response to Lloyds announcement on PPI

5th May 2011. Citizens Advice Chief Executive said: "We are really pleased to hear today that Lloyds is planning to settle PPI claims where redress is appropriate, after discussions with the FSA. We hope that other banks follow suit and customers will finallybeawarded the compensation they are due for mis-sold PPI policies that were far too expensive and completely unsuitable for their needs." In 2005 Citizens Advice made a super complaint to the Office of Fair Trading (OFT), calling on them to launch an investigation into the PPI business, which at that time had an estimated 20 million policies in force and produced annual revenue in excess of £5 billion. Protection racket CAB evidence on the cost and effectiveness of payment protection insurance, the report on which the super complaint was based, is available on the Citizens Advice website:... News: Citizens Advice

Will banks fight High Court over mis-sold PPI ruling?

2nd May 2011. Banks are holding crunch meetings with their lawyers this week to decide whether to carry on their fight to overturn hundreds of thousands of complaints about mis-sold payment protection insurance. The British Bankers' Association has just 9 days to ask for permission to appeal after the High Court last month rejected its claim that new rules for handling complaints about the mis-selling of PPI were unlawful... Banks PPI Claims

Aviva develops PPI alternative

28th April 2011. Aviva has developed an alternative PPI product in a bid to distance its offering from the damaged reputation of the PPI sector... Aviva PPI Alternative

FSA praises PPI ruling as victory for customers

28th April 2011. The high court decision to dismiss the banks' legal challenge "signals the end of years of poor PPI complaint handling", according to the FSA. In a statement following the decision to reject the appeal brought against the regulator's PPI measures, the FSA said the ruling would trigger a improvement in the way customers are treated when complaining about missold PPI... FSA expects improvement in PPI claims handling

Will bank PPI defeat help consumers?

27th April 2011. At the time of writing, the banks are mulling whether to mount an appeal after they lost their judicial review against an FSA ruling on PPI... Banks may appeal PPI refunds

Banks fight refunds in £3.2bn PPI ruling

21st April 2011. The judicial review's decision against the banks could cost the industry up to £3.2bn in compensation paid out to customers whom the FSA says could have been mis-sold PPI, cover that can take over the payment of a loan for a period should the borrower lose their job... Banks fight PPI refunds

PPI: Banks Lose Battle Against FSA

20th April 2011. Britain's banks have lost their fight against tighter rules on the sale of payment protection insurance (PPI) and face a bill estimated at £4.5bn... Banks Lose PPI battle Against FSA

PPI Selling Point

14th April 2011. As new rules on the sale of PPI insurance come into play, Money Marketing asks if this will mean an end to the problems that have dogged the sector. The Competition Commission's new rules for the sale of PPI came into effect last week. This marked the end of a long, drawn-out struggle to change the way PPI is sold (or previously missold)... Missold PPI

Record Claims for Compensation Over PPI

30th March 2011. New figures released by the Financial Services Authority (FSA) show that complaints made in the second half of 2010 about PPI increased by 63%. Here we take a look at the mis-selling of PPI. The last six months of 2010 saw 434,596 complaints made about PPI. ... FSA PPI Mis-Selling Claims

Competition Commission lays down rules over sale of PPI

28th March 2011. The Competition Commission (CC) has published a list of requirements relating to the sale of payment protection insurance (PPI) in a bid to remedy the point of sale issues that have dogged he sector. One requirement is the commission of independent mystery shopping exercises by the largest PPI providers... PPI Mystery Shopping

Barclays PPI Misselling Claims

18th March 2011. The controversy surrounding payment protection insurance (PPI) dates back to 1998 when Which? magazine published a report alleging that policies were regularly being mis-sold to consumers. It claimed customers who bought PPI - which is used to cover payments on credit cards, loans and mortgages... News: Barclays PPI Misselling Claims

PPI misselling has increased FSCS levies 70-fold

17th March 2011. PPI misselling has caused a 70-fold increase in Financial Services Compensation Scheme levies for the insurance intermediary sub-class, according to the British Insurance Brokers Association... News: PPI Misselling Claims

First PPI, and now banks overcharge for life cover

16th March 2011. Life Insurance with your mortgage could cost an extra £300 a year. Banks have been accused of selling homebuyers overpriced life insurance when they sign up for a mortgage... News: Banks Overcharge for Life Insurance

PPI claims bill could hit £4bn

8th March 2011. An MP has raised the prospect that the overall liability for PPI claims could reach £4bn. The figure came at an evidence meeting concerning PPI misselling of the All Parliamentary Group on Insurance and Financial Services held in the Commons... News: PPI Claims Evidence Meeting

PPI claims industry should not have to stump up cash for FOS

8th March 2011. PPI mis-selling claims make up 25% of the record number of cases being referred to the Ombudsman and many are lodged by claim management companies, seeking compensation on a no win, no fee basis... News: Ombudsman PPI Claims

Banks back in the firing line this week over PPI misselling

5th March 2011. The Financial Ombudsman Service (FOS) published its latest figures on complaints, prompting consumer group Which? to claim they showed "the need for a fundamental overhaul to the way many banks pay their staff". The RBS told The Herald that PPI policy figures... News: Ombudsman PPI Claims

Welcome Finance PPI claims taken over by FSCS

2nd March 2011. The Financial Services Compensation Scheme (FSCS) is taking over PPI claims against Welcome Finance. The FSCS said Welcome Finance was effectively insolvent. Welcome Finance had sold 500,000 PPI policies... News: Welcome Finance PPI Claims

Ombudsman predicts rise in PPI complaints

27th February 2011. PPI claims to soar. PPI complaints are expected to rise dramatically in 2011, according to the Financial Ombudsman Service. The FOS estimates that it will deal with 40 percent more PPI claims this year than in 2010. The Ombudsman believes that it will have to deal with 68,000 complaints this year as more people challenge their provider over missold PPI policies. PPI is often sold... News: Which? PPI Claims

Lloyds receives 70% jump in PPI claims

23rd February 2011. The number of PPI claims received by Lloyds Banking Group jumped by almost 70 percent in the 2nd half of last year in a sign of the rapidly escalating problem banks face over the controversial loan cover. Lloyds, one of the biggest providers of PPI, said that 148,300 customers had complained about the product in the final six months of 2010, compared with 87,688 in the first half... News: Lloyds PPI Claims

ABI questions need for FOS levy increase to cover PPI claims

22nd February 2011. The Association of British Insurers has called into question whether the Financial Ombudsman Service (FOS) needs to raise the levy to cover the costs of future PPI claim complaints. Last month the Ombudsman outlined plans to request an increase of up to £30m in the levy if firms stop paying case fees pending the outcome of the BBA judicial review into PPI... News: Ombudsman PPI Claims

Ombudsman names and shames PPI as its biggest offender

17th February 2011. Half of the complaints made to the Financial Ombudsman Service in the last quarter of 2010 were in relation to PPI. Record numbers of complaints recorded by FOS, which totalled 25,000 in the three-month period, came with a warning that this would affect the levy paid by businesses to the Ombudsman... News: Ombudsman PPI Claims

PPI claims held up as legal review rumbles on

16th February 2011. Consumer complaints about PPI are being held up as firms refuse to co-operate as a legal review continues. Recent PPI claims figures from the Financial Ombudsman Service (FOS) show that the number of PPI cases resolved in favour of consumers is now 66%. PPI insurance is a policy taken out alongside various forms of finance, such as credit cards and mortgages... News: Ombudsman PPI Claims

AMII slams FSCS levy over PPI claims levy

10th February 2011. The Association of Medical Insurance Intermediaries (Amii) has condemned the proposed Financial Services Compensation Scheme (FSCS) levy as unfair, excessive and totally inappropriate. Amii, claimed the increase is on top of a massive eight-fold increase last year and is mainly a result of compensation claims for PPI misselling... News: FSCS PPI Claims

PPI claims still rising

10th February 2011. PPI claims have increased further and now make up half the workload of the Financial Ombudsman Service (FOS). The FOS received 24,955 PPI complaints in the last 3 months of 2010. That was 50 percent of the total number of complaints the FOS had received and nearly twice the number lodged with it 6 months earlier. PPI is... News: FOS PPI Claims

EMCAS in management buyout

10th February 2011. Management buyout been completed at EMC Advisory Services (EMCAS). EMCAS specialises in handling consumer claims. Catalyst Corporate Finance advised on the deal commenting, Initially, the owners of EMCAS sought our advice on their future options to realise value and reduce their involvement in the business�... News: EMCAS PPI Claims

Victims of PPI miss-selling now hit by payment delay

2nd February 2011. Victims of PPI miss-selling have had a tough few years, but are now suffering double ignominy due to the utter contempt shown towards them by banks. Not only were they deviously sold missold PPI... News: Bank PPI Claims

Victims of PPI miss-selling now hit by payment delay

2nd February 2011. Victims of PPI miss-selling have had a tough few years, but are now suffering double ignominy due to the utter contempt shown towards them by banks. Not only were they deviously sold missold PPI... News: Bank PPI Claims

Which? blasts banks of PPI review

28th January 2011. The British Bankers' Association's (BBA) decision to contest new rules on PPI refund complaints has been criticised by consumer watchdog Which?. A Judicial Review over the Financial Services Authority new rules on PPI, brought by the BBA, has begun at the High Court. Under the rules, customers who have been missold PPI in the past will be able to claim refunds from their bank... News: Which PPI Claims

Martin Lewis appears on ITV Daybreak

28th January 2011. Money Saving Expert Martin Lewis has appeared on ITV Daybreak discussing PPI. He says "the banks are revolting. They're taking the regulator, the FSA, to court in a case which could see the future of billions of pounds worth of mis-sold PPI decided.... News: Martin Lewis ITV Daybreak

BBA sees new PPI rules as unlawful

27th January 2011. UK banks at the centre of a high court test case battle over the alleged misselling of PPI have warned that compensation could reach £3bn. The court was told at the outset of the 4 day PPI judicial review that if the banks accept that they missold PPI, then they must compensate the customers.... News: BBA PPI Claims Judicial Review

PPI scandal spanned three decades

27th January 2011. The PPI saga began in the 90s. Now the story of the PPI misselling scandal reaches its final chapter at the High Court in London. In 1998 the issue of PPI being a poor-value product because of expense and exclusions was first raised in Which? magazine... News: PPI Claims Scandal

AMI says firms should cooperate on PPI cases

17th January 2011. The Association of Mortgage Intermediaries has urged firms to co-operate over PPI claims. The Ombudsman warned last week that its reserves could be exhausted within six weeks if businesses continue to be uncooperative with PPI claims. The FOS says that as a result its caseload has increased and it is receiving 2,500 PPI claims a week, which is putting a strain on its resources... News: Ombudsman PPI Claims

FOS prepares for PPI claims caseload surge

12th January 2011. The Financial Ombudsman Service (FOS) is preparing for another rise in its PPI claims caseload. In the current financial year, PPI refund disputes have risen 40%. Many PPI refund disputes are currently on hold following the decision by the British Bankers Association to issue judicial review proceedings in relation to both the Financial Services Authority's PPI claims complaints-handling guidance, and the FOS with regard to information on its website. Once the outcome of the proceedings is known, the Ombudsman expects a rise in the number of PPI cases being referred... News: Ombudsman PPI Claims

PPI claims cases damage Ombudsman reserves

10th January 2011. The Financial Ombudsman Service has said its reserves have been significantly reduced after a 40% jump in the number of PPI claims it handled. The group expects to receive around 68,000 PPI claims during the 2010/2011 financial year. It said the workload was significantly higher than the 46,000 PPI claims... News: Ombudsman PPI Claims

Leaked letter reveals banks' dirty tricks on PPI claims

9th January 2011. HSBC is deliberately stalling PPI compensation claims at the Ombudsman for mis-sold debt insurance, a leaked letter seen by Martin Lewis's MoneySavingExpert.com reveals. The banking giant is withholding vital information from the independent Financial Ombudsman Service to help it settle PPI claim refund disputes... News: Martin Lewis / Money Savings Expert PPI Claims

Providers hand out £40m in MPPI refund claims

21st December 2010. Providers of mortgage payment protection insurance have refunded a total of around £40m to consumers as part of redress measures agreed with the FSA last year. The FSA entered into an agreement with MPPI firms... News: MPPI Claim Complaints

PPI claims stalled by banks, Ombudsman reveals

14th December 2010. Thousands face PPI claim delays. Some banks are stalling on dealing with customers' PPI claims, the Financial Ombudsman Service (FOS) says. The FOS said the banks were refusing to handle the PPI claims within the required eight weeks... News: FOS PPI Claim Complaints

UK Banks defy FSA on new PPI rules

6th December 2010. Banks are putting up a desperate fight to hold on to an estimated £2 billion in mis-sold PPI by flouting new rules that could mean compensation for around three million victims. New FSA regulations, that came into effect last Wednesday, force banks to review past sales of PPI... News: Martin Lweis / Money Savings Expert PPI Claim Complaints

Banks shun FSA PPI insurance warning

4th December 2010. Lloyds Banking Group and Royal Bank of Scotland are both putting refund claims and complaints over alleged misselling of PPI on hold, despite a warning from the FSA that it will crack down on banks that fail to follow new PPI guidelines... News: Bank PPI Claims

Banks flout PPI sales rules

1st December 2010. High Street banks face huge fines for flouting tougher rules on handling PPI insurance claims. PPI was sold with loans and credit cards as a safety net to protect people who become unemployed or too sick to work... News: Bank PPI Claims

Banks defy FSA on PPI claims rules

26th November 2010. Lenders, including government-backed banks, are refusing to adopt the new standards laid out for dealing with PPI claims. New guidance for PPI claims... News: FSA PPI Compensation

FSA Clarifies PPI Guidelines After Banking Challenge

24th November 2010. The UK's Financial Services Authority clarified rules on how to treat consumer claims about wrongly sold PPI in response to a judicial review sought by the British Bankers' Association... News: FSA PPI Compensation

New rules will not reduce the number of suitable sales of PPI

16th November 2010. Compliance with new FSA rules will not lead to a reduction in the number of legitimate sales of PPI, it has been claimed. The FSA has announced new rules that are likely to see banks pay out millions in PPI claims compensation to customers who have been mis-sold PPI packages... News: FSA PPI Claims

Wrongly Sold PPI Claims

15th November 2010. There are time limits for claiming your wrongly sold PPI compensation - it's vital you waste no time. Find out how much you are owed... News: Wrongly Sold PPI

FSA vows to act on products similar to PPI

11th November 2010. The FSA is keeping an eye on modified versions of PPI insurance. The director of the insurance sector department of the FSA said... News: FSA PPI Sales Regulation

FOS says PPI claims complaints jumped 11% in Q3

10th November 2010. PPI claims continues to top the Financial Ombudsman's Service (FOS) product complaints list, attracting 11% more claims in the three months to 30 September versus the previous quarter. PPI refunds gripes made up 45% of the FOS' workload... News: Ombudsman PPI Claims Complaints

Ombudsman prepares for PPI claims

4th November 2010. The Financial Ombudsman Service (FOS) is gearing up for a rise in PPI claims after banks put the processing of 1000s of claims on hold. The Ombudsman, which deals with PPI claims that can not be resolved between financial business and customers, is planning to reallocate staff ahead of an expected spike in PPI complaints... News: Ombudsman PPI Claims

UK banks face £5 billion PPI claims

27th October 2010. Lloyds and the next four biggest UK retail banks could have to pay out 5.1 billion pounds in PPI claims under a worst case scenario for them. Under a base case, this could lead to RBS and HSBC having to pay out about 400 million pounds each and Barclays and Santander each face payouts of just over 300 million in PPI claims... News: UK Banks PPI Claims

Lloyds could face £1bn claims for PPI misselling

26th October 2010. Analysts claim that Lloyds are vulnerable to £1bn of PPI claims after the banks were found guilty of overcharging and misselling customers PPI insurance on their credit cards and loans... News: Lloyds PPI Claims

Moneysavingexpert.com founder Martin Lewis warns on access to advice

21st October 2010. Martin Lewis of Moneysavingexpert.com said there is a lack of understanding of the advice landscape among consumers, adding that some people went to banks and were sold PPI thinking that the commission-incentivised seller was an adviser... News: Moneysavingexpert.com PPI Sales

Wrongly Sold PPI Claims

16th October 2010. There are time limits for claiming your wrongly sold PPI compensation - it's vital you waste no time. Find out how much you are owed... News: Claim PPI Refunds

PPI point-of-sale ban will go ahead

16th October 2010. At a time when PPI claim complaints are high in the news, the Competition Commission has now overturned an appeal by Barclays over PPI sales. There's to be a ban on the sale of PPI at the same time as credit cards, loans and mortgages... News: Barclays PPI Sales

PPI claims delays after banks dig heels on complaints

15th October 2010. Customers won't receive any PPI claim refunds until banks' judicial review is heard. Thousands of customers who have complained that they were mis-sold a PPI policy face lengthy delays to get their claim resolved, after a legal argument between the banks and the FSA... News: Banks PPI Claims Complaints

Which slams bankers judicial review on PPI claims

14th October 2010. As the FSA vows to fight the British Bankers Association's judicial review of the new PPI claims complaints measures, Which... News: Which PPI Claims Complaints

Lenders put PPI claim complaints on ice

13th October 2010. Thousands of consumers who have lodged PPI mis-selling complaints face delays in having their disputes resolved as banks mount a legal challenge against new PPI claims complaints handling rules... News: British Bankers PPI Claims Complaints

FSA to challenge BBA over PPI complaints

11th October 2010. The FSA will challenge the British Bankers' Association's judicial review of its new PPI complaints handling measures... News: FSA PPI Claims Complaints

Lloyds puts PPI claims on hold in defiance of regulator

11th October 2010. Government-backed Lloyds Banking Group is defying regulatory guidelines by putting all PPI claims on hold.... News: Martin Lewis Money Saving Expert PPI Claims

Judicial review of the FSA's PPI claims complaints handling

8th October 2010. The British Bankers' Association has launched a judicial review of the FSA's new PPI claims handling measures. The FSA published a policy statement in August outlining a package of measures to protect consumers who buy PPI... News: British Bankers PPI Claims Complaints

Financial Services Consumer Panel: PPI Claims

7th October 2010. The panel has spoken out over the past 18 months on issues such as bank charges, banking complaints, and the mis-selling of payment protection insurance... News: FSCP PPI Claim Complaints

FSA in drive to improve complaints handling including PPI

6th October 2010. This builds on the FSA's recently finalised guidance for complaints about PPI, but will apply to all types of complaint... News: FSA PPI Claim Complaints

PPI Claims: Figure out the FOS

2nd October 2010. Payment protection insurance is the new endowment and accounted for 30 per cent of all complaints, 89 per cent of which were upheld. Banks provided 70 per cent of PPI complaints, with mortgage and insurance... News: FOS PPI Claim Complaints

Pure protection complaints continue to rise

1st October 2010. Overall, bank current accounts produced the highest complaint levels, with PPI second... News: PPI Claim Complaints

FSA PPI Claims Redress. A Missed Opportunity?

22nd September 2010. If statutory consumer redress schemes had been available this time last year, it may have lead the FSA to establish one in respect of PPI.... News: Ombudsman / FSA PPI Claim Complaints

Fos upholds 44% of complaints in favour of consumers

23rd September 2010. A spokesman for the FOS said he could not comment on individual cases, but conceded that PPI was responsible for a high level of complaints. He said: "Certainly across the board PPI has had an effect, as we have seen a shift and complaints have seen a trend towards banking and general insurance, which is largely PPI driven."... News: FOS PPI Claim Complaints

Hiscox boss calls for break up of Association Of British Insurers

22nd September 2010. The CEO of Hiscox told the British Insurance Summit that it was important the government viewed recent complaint figures, including PPI claims, as more than simply an "insurance problem". Banks lead the pack with more than half of those complaints... News: PPI Claim Complaints

Financial firms hit by 84,000 complaints

18th September 2010. Numbers were swollen by the high proportion of PPI claims which had been missold by many lenders in the past... News: PPI Claim Complaints

Loaded question about PPI misselling

16th September 2010. Panel hit out at the practice of loading premiums and lament the continuing fallout over PPI misselling... News: PPI Misselling

Martin Lewis's Money Saving Expert: Where to buy PPI

16th October 2010. Banks typically overcharged consumers by £1.4 billion a year when selling PPI, according to the Competition Commission, though many have since stopped selling cover. It is often far cheaper to buy PPI from independent providers such as British Insurance or Paymentcare... News: Martin Lewis's Money Saving Expert PPI Sales

Lloyds is the most complained about bank

14th September 2010. The Financial Ombudsman Service (FOS) has released complaints data for banks, insurance companies and investment firms. The vast majority are likely to have concerned PPI... News: Lloyds PPI Claims

PPI insurance: if you really want it, where do you go?

4th September 2010. As new FSA rules come into force, the PPI industry is bracing itself for £2bn-worth of misselling claims. So if you need PPI cover you need the very best advice. There is nothing wrong in the principle of PPI, it's just that it was hugely overpriced, and contained terms that made it difficult for many to claim. But what if you really want a protection policy to cover your mortgage or credit card payments if you became unemployed or fell sick?... News: PPI Claims

Wrongly Sold PPI Claims

4th September 2010. There are time limits for claiming your wrongly sold PPI compensation - it's vital you waste no time. Find out how much you are owed... News: Claim PPI

PPI may help with rescue planning

1st September 2010. While the Competition Commission has not confirmed its final verdict on the remedies it wants to introduce to the UK PPI market next year, the provisional decision published in May concerning PPI on mortgages, loans and credit cards... News: PPI Claims

Select and Protect offers prizes for MPPI selling

31st August 2010. Selected mortgage brokers have been chosen to take part in an exclusive Select and Protect MPPI competition. They are finding out more about MPPI as the provider exposes what it calls the five top mortgage PPI myths... News: MPPI Claims

PPI Early Warning

31st August 2010. The FSA's policy statement on payment protection insurance (PPI) complaints does not come as much of a surprise but it still represents bad news for the financial industry which never seems able to shake off the mantle of mass misselling. The FSA has said in the past that 5-10 per cent of insurance intermediaries may fail as a direct result of the cost impact of its measures... News: FSA PPI Claims

1,850 complaints to Lloyds Bank each day

27th August 2010. Included in this figure Lloyds received 41,874 complaints about insurance products during the first half of the year, mainly relating to PPI misselling... News: LLoyds PPI Claims

PPI: When the best-laid plans go awry

26th August 2010. New rules affecting the redress of PPI complaints have been published by the FSA. The FSA has published its long-awaited policy statement containing new rules in relation to the assessment and redress of the still significant numbers of PPI complaints that firms... News: FSA PPI Claims

Case of the PPI insurance policy that never was

25th August 2010. The row over PPI insurance took a fresh twist last week when it emerged that thousands who signed up for joint PPI policies may have no cover... News: Joint PPI Claims

FSA finalises PPI complaints rules

25th August 2010. FSA finalises PPI complaints rules Sellers of PPI have until 1st December to implement a new complaints handling regime, the Financial Services Authority (FSA)... News: FSA PPI Claims

How PPI missed the point

17th August 2010. Lloyds Banking Group's move to stop selling payment protection insurance is being seen as the lead in to the end of PPI products. The bank stopped PPI sales across all its retail... News: Lloyds PPI Claims

FOS still dealing with record PPI complaints

16th August 2010. More than 21,400 complaints have been lodged over payment-protection insurance since April, figures from the Financial Ombudsman Service (FOS) have revealed. It said it had now received 114,478 consumer complaints in the past five years over PPI... News: Ombudsman PPI Claims

Five-year PPI scandal leaves banks laughing

14th August 2010. Customers have been complaining about PPI for years. This week, the Financial Services Authority (FSA) ordered banks to improve their response and forecast that 550,000 people would lodge complaints about PPI... News: FSA PPI Claims

PPI compensation could reach £2.7bn, says FSA

10th August 2010. Two and three quarter million people could be refunded as much as £2.7bn for being missold PPI. The Financial Services Authority (FSA) has given banks and other lenders until 1 December to adopt new rules for dealing with PPI complaints... News: FSA PPI Claims

Three million in the queue for compensation over PPI misselling

10th August 2010. The FSA has issued new rules to firms about PPI misselling claims. Nearly 3,000,000 people who took out PPI sold by banks and other lenders could be in line for compensation totalling more than £2bn after the FSA today issued new rules on how firms should handle the flood of complaints over PPI misselling... News: FSA PPI Claims

Tesco Bank customers at risk of fraud after personal data is lost in post

30th July 2010. Prior to the data loss, the affected customers had complained to Tesco Bank about PPI. PPI is the insurance added to credit cards and loans which is supposed to cover repayments if borrowers are unable to pay because of accident, sickness or unemployment. It is believed that the victims of the Tesco data loss were in the process of making such PPI complaints. (Reclaiming-Tesco-PPI)... News: Tesco PPI Claims

PPI sales come under fire

28th July 2010. The Financial Ombudsman Service (FOS) has published quarterly data for the first time which shows that inquiries about PPI again top the list of complaints. PPI should enable borrowers to pay off loans such as credit cards or mortgages if they fall ill or lose their job... News: Financial Ombudsman PPI Claims

FSA complaints

28th July 2010. The complaints data publication - Firm specific complaints for the first half of 2010 has been lodged... News: FSA Firm-level complaints data

Lloyds TSB Bank stops PPI sales

27th July 2010. FOS figures are expected to show 150 people a day complain about PPI, as Lloyds Banking Group calls halt to sales for loans, credit cards and mortgages. Lloyds Banking Group has stopped selling the controversial PPI across all of its brands, which include Halifax and the Bank of Scotland... News: Lloyds PPI Claims

FSCS pays out two thirds of compensation for investment and PPI claims

22nd July 2010. In its annual report and accounts 2009/10, the FSCS said that two thirds of compensation paid was for PPI and investment claims... News: FSCS PPI Claims

PPI Claim Leads

Guaranteed PPI claim leads at a fair price

Please note that we are currently only accepting orders from firms who are regulated by the MoJ who:


Have 2 or more case handlers



Can take a continuous flow of leads including during holiday periods



Can service at least 20 PPI Claim Leads per week


Resellers acting on behalf of MoJ regulated companies are also welcome to apply. Please note that leads will only be sent to the regulated advisers. However, lead volume statistics that do not identify individual prospects will be sent to resellers on request.

We are currently looking for high volume PPI claim lead partners. LeadFair would act as an additional sales stream to increase your volume of business... business that your competitors might be picking up if you don't. Increased market share will help make you even more powerful/competitive within the claims industry.

Our marketing has a huge reach of over 90% of the UK's Internet population. We do not use any intrusive types of marketing, all our leads are generated by non-invasive, passive marketing - your leads will only be sourced from people who are in need of PPI claim help, i.e. they seek contact from you, not the other way around.

Also, 100% of our PPI leads are generated from sites owned by us - we never buy leads from other companies. We do not use affiliates, call centres, lifestyle questionnaires, send unsolicited emails or outsource our services. You will see exactly where your leads are coming from.

If you are regulated by the Ministry of Justice, please see our PPI Leads enquiry page for more information. We will send you a detailed proposal.

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