MoneySavingExpert founder Martin Lewis has gripes against the FCA’s efficient £42.2 million PPI claims advertising campaign. He said consumers asked to search for “FCA PPI” can likely land on claims management company pages. It may mislead customers that payment is not optional when reclaiming PPI refunds. Lewis said the FCA should have displayed its URL […]
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The FCA’s advertising campaign had yielded results as PPI complaints have increased by 40% in just six months after implementation. Featuring the voice and the bizarre tank-tracked disembodied head of Arnold Schwarzenegger helped improve the FCA’s PPI page’s visibility. Complaints have reached about 2.21 million, which was 13,000 fewer compared to the first half of […]
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Payment protection insurance had become the boom and bane of the UK’s financial industry. Following the report of millions mis-sold the insurance policy through unscrupulous means, banks have suffered immensely for almost a decade paying for mis-sold PPI claims. However, with the FCA’s 29 August 2019 deadline looming closer and the increasing PPI claims, it […]
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St John’s Buildings Barristers point out that the FCA’s established PPI claims guidelines have meant consumers lose more than they gain undergoing the process. Barrister Elis Gomer said that the FCA has ignored and privately settled PPI matters wherein it had banks return the consumer’s full PPI value and compensation. Currently, the FCA’s guidelines allow […]
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Clydesdale and Yorkshire Banking Group (CYBG) announced they will provide an extra £350m to their PPI refund pot after an increase of 59,000 complaints in the first quarter of 2018. According to the banking group, heightened media presence and the Financial Conduct Authority (FCA)’s advertising campaign had helped increase its refund cases. The banking group […]
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Any consumer who was mis-sold PPI for a loan, mortgage or credit card from 1990 onwards can reclaim their refunds. Regardless of the bank’s six-year data policy, you can use workarounds to procure your repayment information and justify your right to claim your full compensation. Banks Tell You They Only Keep Data for Six Years […]
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Payment protection insurance had stolen money from you. The truth is, the product itself is useful and efficient. However, due to the manner it was sold, many customers initially ineligible for the policy had ended up paying for a product they can never use. You are entitled to claim for refund and compensation if you […]
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Payment protection insurance policies, also known as credit card protection and mortgage protection insurance, are the UK’s biggest fiscal headache. Due to unscrupulous sales tactics bank employees utilised to sell ineligible individuals the policies, banks are faced with a massive £40 billion debt that they continue to repay to this day until the Financial Conduct […]
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A huge number of commission-oriented bank employees and financial advisers marked the beginning of mis-sold PPI. Because of stressful work volumes, these individuals sold ineligible customers an insurance policy they cannot use. As claims for these mis-sold policies come to an end on 29 August 2019, self-invested personal pensions (SIPP) might be the next to […]
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The deadline for payment protection insurance claims is approaching its last year. By 29 August 2019, the Financial Conduct Authority and Financial Ombudsman will not acknowledge any complaint related to mis-sold PPI. Best you make your claim today to avoid any problems in the future. In this light, consumers must claim all their refunds in […]
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