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Consumers who complained they were mis-sold PPI by firms no longer trading received £6m in compensation during the 2017/18 period, according to the latest annual report from the Financial Services Compensation Scheme (FSCS).
As the cost of the Payment Protection Insurance (PPI) mis-selling scandal continues to run on for UK financial firms, two companies are now turning on each other in the pursuit of compensation.
Insurance and healthcare provider Axa are claiming that Genworth, a protection and mortgage firm, owes them more than £30m in legacy... Read more
Almost 950 local branches of the UK’s top four banks were either closed or had closures announced in 2017, leaving some local and rural communities with both economic and social difficulties.
There are less than half the... Read more
Australia’s top four banks are facing twelve months of intense scrutiny after a royal commission was announced to investigate misconduct in the sector.
Prime Minister Malcolm Turnbull, a former investment banker, confirmed the news following heavy public and political pressure.
Commonwealth Bank, NAB, ANZ and Westpac, the four biggest... Read more
2017 has been a busy year of developments in the Payment Protection Insurance (PPI) mis-selling saga. As the year draws to a close, we look back over the last twelve months and review the major developments:
3 million people lose their chance to check
The start of 2017 was bad news for millions of people, as... Read more
