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A whistleblower has told the Financial Mail on Sunday that Lloyds used ‘shocking’ tactics to sell Packaged Bank Accounts to some of their customers. The unnamed source speaks of a culture ‘obsessed with targets and profit’, and says that certain vulnerable groups of customers were targeted to be sold a fee-paying bank account.
30 August 2016

A whistleblower has told the Financial Mail on Sunday that Lloyds used ‘shocking’ tactics to sell Packaged Bank Accounts to some of their customers.

The unnamed source speaks of a culture ‘obsessed with targets and profit... Read more

Why claiming compensation for your mis-sold packaged bank account is the right thing to do
21 June 2016

Customers looking to claim compensation having been mis-sold a Packaged Bank Account (PBA) have been defended by a senior finance journalist.

Writing for This is Money, Simon Lambert said that claiming back money for a mis-sold PBA did not add to Britain’s ‘compensation culture’.

PBAs are accounts with annual or monthly fees attached to them, offering benefits such as travel insurance and motor... Read more

The scandal of mis-sold Payment Protection Insurance (PPI) has been in and out of the public spotlight for over a decade1, with some calling it ‘the biggest mis-selling scandal in financial services history’2. But how much do you really know about the whole PPI saga? Here are 5 facts that you may not have known about PPI which show the scandal is far from over:
17 June 2016

The scandal of mis-sold Payment Protection Insurance (PPI) has been in and out of the public spotlight for over a decade, with some calling it ‘the biggest mis-selling scandal in financial... Read more

Who are the FSCS and how do they work?
7 June 2016

Have you ever thought about what would happen if the bank or building society that you were holding your life savings with suddenly went out of business?

What would happen to those savings? Would you get your money back? And how?

Since 2001 the Financial Services Compensation Scheme (FSCS) has been there for this very eventuality, recovering large sums of money for people... Read more

Concerns grow over suitability of travel insurance sold with Packaged Bank Accounts
24 May 2016

Concerns have been raised over the suitability of travel insurance which is sold as part of Packaged Bank Accounts (PBAs).

PBAs are bank accounts that charge a monthly or annual fee, and in return offer a range of features such as travel insurance, mobile phone cover or preferential rates on products such as loans.

However... Read more

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