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PPI Cut Off

PPI Cut Off August 2019

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People seeking compensation over mis-sold payment protection insurance (PPI) will have to make their claims before 29 August 2019. The final deadline has been set by the Financial Conduct Authority (FCA) in an effort to draw a line under one of the banking industry’s biggest scandals. Millions of people have already been compensated and banks […]

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How Do I Know If I’ve Been Mis-Sold My Mortgage?

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Mis-sold mortgages are more common than you think, with the FCA estimating that up to 2.5 million mortgages may have been mis-sold over the years. That’s why it’s imperative to know what constitutes mortgage mis-selling. If you have reason to believe your mortgage was mis-sold to you, keep on reading for our easy guide. Interest […]

Haven't Lloyds Learned Their Lesson

Haven’t Lloyds Learned Their Lesson?

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It looks like some banks haven’t learned their lesson since the huge PPI mis-selling scandal that has swept the nation. This comes as one trade union contacted the Financial Conduct Authority’s incoming chief, Andrew Bailey. The trade union TiM were contacted by staff at Lloyds branches, with reports that they are still under pressure to […]

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Consumer Watchdog: PPI 2018 Deadline is ill-judged

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Which? has stated that the PPI date set by the Financial Conduct Authority is ‘ill-judged’. They also said that the compensation process should be made ‘simpler and fairer’ by banks. In 2015, the Financial Conduct Authority set out plans to appoint a two-year time limit on PPI claims, to wrap up the costliest mis-selling scandal […]

PPI

Value of Interest Payouts Boost PPI Claims

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If you find some old paperwork that shows you were mis-sold PPI on a loan or credit card in the past, then now is the time to put in a claim and make some money. In a recent development from the Professional Financial Claims Association, their predictions state that banks face at least another £22 […]

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FCA Unable to Predict the Costs of PPI for Banks

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According to the Financial Conduct Authority (FCA), the amount of money the payment protection insurance (PPI) scandal is going to cost banks in reimbursements cannot yet be predicted. A final decision on an end date for claims is looking more and more likely to be the spring of 2018, and the FCA have admitted that […]

LONDON, UK - JANUARY 27, 2015: City of London, business and bank

Banks Use Delaying Tactics on PPI Claims

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According to recent Ombudsman figures, banks are still using delaying tactics when it comes to processing PPI claims. The bank with by far the worst reputation for this is Lloyds, who have a staggering 80% of the complaints made against them upheld. Although customer complaints are still being made, the financial powerhouses involved in the […]

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Santander Reserves An Additional £450m For PPI Reimbursement

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The Payment Protection Insurance (PPI) scandal that has loomed over the UK banking sector continues to do so, with Santander the latest to put aside further funds for repayments. In this instance, the bank has added another £450 million to compensate customers that were mis-sold. This is the first time that the Spanish bank has […]

LONDON, UK - JANUARY 27, 2015: City of London, business and bank

PPI, Loans And Write-Downs Cause RBS To Make Loss For 2015

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It is being reported that The Royal Bank of Scotland has reserved an additional £2.5bn to cover the costs of its role in the Payment Protection Insurance (PPI) scandal, as well as the legal bills, low interest rates and compensation payments. Shortly before the release of the bank’s 2015 financial results, these are all thought […]

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New PPI Provisions To Be Announced By Lloyds

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Some of the largest lenders within Britain’s financial sector are gearing up to reserve further billions of pounds for Payment Protection Insurance (PPI) compensation funds. This is in preparation for the introduction of the PPI deadline, proposed for two years from now, towards the start of 2018. It has been reported that Barclays, HSBC, Lloyds […]

Did George Osborne Give In To The Banks?

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The end of 2015 saw the sudden discontinuation of not just one, but three, FCA probes. The purpose of these examinations had been to find out how the PPI mis-selling banking scandal, as well as the manipulations of Libor and Forex, were allowed to happen. In particular, whether incentives such as pay and promotions contributed […]

PPI Money You May Be Due, As Well As Other Entitlements

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In 2015, millions of people were sent letters that told them they were owed money due to having been sold payment protection insurance that was worthless to them. Unfortunately, many of these people will throw these letters into the bin, assuming it’s spam, and lose out on the money they deserve. It’s not too late […]

What to Expect in 2016 – PPI Claims

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As we reach the tail-end of the year, we’re often asked to look back over the previous twelve months in a somewhat reminiscent way. At Enjay Claims though, we feel that this time of year should also be about looking forward into the next, and trying to figure out what it will bring and what […]

Future PPI Costs to Banks Not Predictable

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According to the Financial Conduct Authority (FCA), the remaining cost of the Payment Protection Insurance (PPI) scandal for banks isn’t able to be estimated. These comments have been made in light of the proposal to cap the time limit that claims can be made to 2018. A statement made by the FCA reads, “We concluded […]

What is PPI and the 2018 cut-off date?

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After sustained pressure from the banks, it looks like The Financial Conduct Authority (FCA) will finally put an end to the PPI scandal by imposing a deadline for all claimants to have submitted their requests. This date currently looks to be in the spring of 2018. The banks hope an end to the scandal will […]

Lloyds Banking Group to Lobby City Regulator over PPI Deadline

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Lloyds Banking Group is set to lobby the City regulator to bring forward the PPI compensation deadline, now that the scandal has cost them almost £14bn. This deadline is a claimant’s last chance to receive compensation for mis-sold payment protection insurance. If a person’s earnings fell below what they had to pay back on their […]

2.5 Million PPI Mis-Selling Complaints to be Reopened by Banks

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In yet another news headline that the banks would rather have kept quiet, it seems that 2.5 million PPI complaints are likely to be reopened on the orders of the Financial Conduct Authority (FCA), thanks to claims of underpayment and compensation rejection. Cases in 2012 and 2013 are the ones under scrutiny, with banks and […]

Fresh Wave of PPI Complaints are Imminent

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There has been a lot of debate over recent months as to whether banks deserve a PPI claims deadline, with the Financial Conduct Authority looking to have finally made a decision and agreeing to give them one. The FCA is even urging consumers to cash in quickly, making it clear that once the deadline passes […]

Banks Desperate for a PPI Compensation Deadline

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With a fresh wave of compensation claims anticipated over the coming months from consumers who have been mis-sold PPI in the past, banks have desperately been calling for regulators to give them some reprieve by placing a claims deadline in place. With bills already cruising into the billions, it has been the recent addition of […]

PPI Mis-Selling – A Scandal That Could Last Years

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The PPI scandal isn’t going to leave quietly. Despite the fact that PPI claims have now reached a staggering £27 billion in compensation, it seems that the end is nowhere in sight, and that banks are going to have to come to terms with the fact that until full repayments are made the scandal will […]

Millions of People Confused by Bank Account Charges

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For almost every bill we pay, from insurance to gas and electricity, we have the option of comparing multiple suppliers to find the best deal. Finding value is a huge drive for most people, with strides taken to make offerings as transparent as possible. One area where this isn’t applicable though is personal banking, where […]

Have New Rules Stamped Out Mortgage Mis-Selling?

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In 2014 new rules were introduced to clamp down on the mortgage market and clear up the mess that mis-selling had left. We are now a year further on from these changes and yet the City Watchdog says that in almost 40% of the cases it reviewed there was confusion as to exactly why the […]

PPI Compensation – Claims against Banks Rising

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The PPI scandal has taken the country by storm. Banks across the United Kingdom have been found guilty of mis-selling this often needless insurance product to consumers, often without their consent and almost always under false pretence. Already £24 billion has been repaid in compensation to those who have been affected by the scam and […]