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Many would have hoped that the end of the UK’s worst ever consumer scandal, mis-sold PPI, would have meant the end of financial malpractice hitting the headlines.
But despite decades of crises and scandals across the sector, financial institutions still find... Read more
Barclaycard have written to some of their customers apologising for overcharging them and issuing refunds worth hundreds of pounds.
The lender had conducted a historic review into customer accounts and found that some were ‘adversely affected’ by ‘default fees’.
Default fees are typically charged when someone falls behind on their payments for a credit product – most commonly a credit card.
As well as the amount of these... Read more
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
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
