185,000 PPI complaints to be reopened | PPI Claim

The Financial Services Authority has ordered firms to redress the complaints under new guidance that will come into force at the end of 2009.

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£60m Mortgage PPI refund due to UK consumers | PPI Claim

Consumers will receive refunds totalling £60m under plans to help borrowers adversely affected by mortgage payment protection insurance (MPPI).

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GMAC fined £2.8m for ‘mistreating’ mortgage customers

FSA orders sub-prime lender GMAC-RFC to pay £7.7m in compensation for mistreating customers who fell into arrears

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Guilty Lenders “Not treating customers fairly”

The regulator, the FSA, has said it wants to see better practice and has fined several companies for failing to treat their customers fairly. More fines, which could be for up to £1 million, are expected.

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MIS SELLING OF ANCILLARY PRODUCTS | Payment Protection Insurance

One example of a Lender potentially breaching the Financial Services Authority Rules, which represent statutory Rules under the provisions of Financial Services and Markets Act 2000 is when a Lender: makes compulsory or recommends an Insurance Policy that is not suitable for your needs or does not obtain sufficient information about you to know if it is suitable for your needs

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PPI still mis-sold, says Which?

PPI for credit cards costs customers nearly £1bn a year says Which?

Many people are still being misled into buying payment protection insurance (PPI) to cover their credit card payments, Which? claims.

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FSA Fines Companies for Mis-sold PPI Policies

The Financial Services Ombudsman has undertaken detailed investigations into the Mis-selling of PPI policies. There are various companies who have been fined.

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UK Debt – The Full Picture, 5 January 2009.

Data released by Creditaction shows just how in debt we all are!

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Unfair Credit Agreement Clampdown

APRIL heralded the 2006 Consumer Credit Act, which allows borrowers to legally challenge unfair credit agreements and refer complaints over all licensed lenders to the Financial Ombudsman.

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FSA fines Egg £721,000 for PPI failings

The FSA has fined Egg Banking £721,000 for serious failings in its sales of credit card payment protection insurance and it is likely to have to pay significant sums in compensation.

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Reclaim PPI | Liverpool Victoria Fined £840,000 over PPI Failings – The Guardian

Liverpool Victoria Banking Services has been fined £840,000 over “serious failings” in the way it sold payment protection insurance (PPI), the City watchdog said today.

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The Financial Services Authority to clamp down on companies which mis-sell PPI

The Financial Services Authority (FSA) is to clamp down further on companies which mis-sell payment protection insurance (PPI).

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4,000 Claims of Mis-sold PPI | Insurance Daily Newspaper

The Financial Ombudsman has today announced that it is continuing to investigate some 4,000 claims of mis-sold payment protection insurance despite moves made to clamp down on rogue selling of incomplete and inadequate cover to consumers.

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