From PPI to the credit crunch
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A Public Accounts Committee report released today has revealed that claims management companies charged victims of the PPI scandal £5bn out of compensation they ought to have received in total.
The Ministry of Justice has proposed capping fees charged by claims management companies handling mis-sold payment protection insurance claims, in a consultation launching today (15 February).
The Financial Conduct Authority (FCA) is to consult on introducing a deadline for bringing complaints about payment protection insurance (PPI) after its research showed a 'significant number' of claims brought did not include a PPI sale.
State-owned Lloyds Banking Group has been hit with a £117m fine by the Financial Conduct Authority (FCA), the "largest retail fine" it has ever issued.
Unum is the life & protection insurer with the highest rate of upheld complaints to the Financial Ombudsman Service (FOS).
The Financial Conduct Authority (FCA) is planning to gather evidence on current trends in complaints related to payment protection insurance (PPI).
The Financial Conduct Authority (FCA) has made a number of recommendations changes to the ways firms handle consumer complaints, following a review of 15 financial firms.
The Financial Conduct Authority (FCA) has fined three former senior executives of insurance firm Swinton Group Limited (Swinton) £928,000.
The Legal Ombudsman will from January 2015 deal with complaints about claims management companies (CMCs).
Lloyds Banking Group has set aside an extra £900m in payment protection insurance (PPI) provisions and confirmed it will cut 9,000 jobs as part of a switch from high street to digital banking.
Demand for Mortgage Payment Protection Insurance is still dwindling, but a new philosophy on debt waiver products could rejuvenate the market. Fiona Murphy reports.
The Financial Conduct Authority (FCA) has reported that firms have improved the way they handle complaints in its latest update on PPI redress work.
Complaints data published by the FCA has showed 2,479,029 new complaints opened against financial services firms between July and December 2013.
Lloyds Banking Group has been accused of using a regulatory loophole to cut the amount of compensation it pays to customers mis-sold payment protection insurance (PPI), a BBC investigation has claimed.
The mortgage industry should expect compensation claims from customers who were not offered financial support mechanisms when taking out their loans, claims management firms have said.
The Ministry of Justice increased pressure on the claims management sector last year resulting in the removal of more than 200 licences from firms flouting the rules.
Lloyds Banking Group says it is increasing its provision for the mis-selling of payment protection insurance (PPI) by another £1.8bn, bringing the total to nearly £10bn.
What effect will the release of FOS findings have on CI? Alan Lakey investigates.