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Websites and phone lines at major UK banks crashed under the weight of demand on PPI deadline day, despite them having two years to prepare. So why were customers unable to access online complaint forms and phone queues stretch beyond an hour and a half?

9 September 2019

Why weren't they prepared? Banks struggle to cope with final day of PPI deadline

Websites and phone lines at the UK’s major banks crashed under the weight of huge demand on the final day of the PPI deadline.

Major lenders such as Santander, NatWest, Barclays and RBS all experienced technical difficulties and long waits on the day that the door to new PPI complaints closed... Read more

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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). Funded by industry levies, the FSCS assists customers in various disputes where financial institutions have closed down and can award up to £85,000 per claim.

7 January 2019

FSCS predict 'substantial number' of PPI claims to come after recovering £6m from closed lenders

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).

Funded by industry levies, the FSCS assists... Read more

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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 costs over PPI mis-selling losses which have not been paid following the purchase of two limited companies.

22 February 2018

Axa sues Genworth as banks now turn on each other over PPI

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

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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 number of banks on UK high streets today when compared with 1988, with RBS announcing the closure of around a quarter of its branches network last year.

12 January 2018

Are the banks closing more branches because they mis-sold PPI?

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

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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.

3 January 2018

Banking misconduct under spotlight in Australian public inquiry

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

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