The Latest from our blog

New EU data protection regulations may leave banks facing fines of at least €20m as they fear they will not be able to comply in time. All companies holding data about EU citizens fall under the new regulations which will come into effect in May 2018.
15 June 2017

New EU data protection regulations may leave banks facing fines of at least €20m as they fear they will not be able to comply in time.

All companies holding data about EU citizens fall under the new regulations which will come into effect in May 2018.

If banking systems are not up to scratch in time they risk fines of 4% of their global... Read more

Motor giants the AA and the RAC have set aside millions of pounds to compensate customers who may have been paying for their cover twice due to having Packaged Bank Accounts (PBAs). An estimated 25,000 people could be affected by the discovery which happened during an IT systems update at the AA.
13 June 2017

Motor giants the AA and the RAC have set aside millions of pounds to compensate customers who may have been paying for their cover twice due to having Packaged Bank Accounts (PBAs).

An estimated 25,000 people could be affected by the discovery which happened during an IT systems update at the AA.

Some Lloyds and... Read more

Barclays sued for £1.6bn over mis-sold PBPs
8 June 2017
 

Barclays is facing a £1.6bn legal bill from an American credit card firm over the mis-selling of a product similar to Payment Protection Insurance (PPI).

CCUK Finance has filed the lawsuit following the purchase of half a million credit agreements from the bank in 2007.

These... Read more

High street banks fail to compensate thousands of fraud victims
6 June 2017

Thousands of customers who flagged fraudulent transactions to their bank were wrongly denied their money back, according to a new investigation.

Consumer group Which? looked into complaints sent to the Financial Ombudsman Service (FOS) between April 2015 and February 2017 after banks had refused to refund customers who... Read more

Financial firms in the UK must put more ‘time, money and energy’ into rebuilding trust with customers after two decades of mis-selling according to a financial consultant. Mick McAteer of financial management consultancy firm 3R Insights says the ‘costs and distress to consumers’ has been ‘unacceptable’, and questioned the value of current compliance information.
1 June 2017

Financial firms in the UK must put more ‘time, money and energy’ into rebuilding trust with customers after two decades of mis-selling according to a financial consultant.

Mick McAteer of financial management consultancy firm 3R Insights says the ‘costs and distress to consumers’ has... Read more

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