Monday, October 21, 2019
The official deadline for making a claim against the mis-selling of payment protection insurance (PPI) passed on 29th August 2019 – but a major court victory could mean consumers can earn a payout from their bank after the official deadline. The August 29 cut-off had been imposed by the City watchdog, the Financial Conduct Authority, to draw a […]
Thursday, March 7, 2019
In modern Britain cash use has been in decline, whereas digital payments have been rising. The same thing has been happening in many countries around the world. Sweden, for example, is the first country named as a “cashless society” in the world. Most of the Swedes, even kids, pay with cards or through the cashless […]
Tuesday, March 5, 2019
In recent years, Self-Invested Personal Pensions (SIPPs) have been under the microscope. This is because a large number of people were not fully clear on what they were investing in. The Financial Conduct Authority (FCA) is currently stuck between a rock and a hard place with the new rules on self-invested personal pensions (SIPPs). Is […]
Thursday, February 28, 2019
Payment Protection Insurance (PPI) claiming will soon be over for good. The Financial Conduct Authority (FCA) agreed a final deadline of 29th August 2019 for all complaints relating to mis-sold PPI. That’s because in 2017, the financial regulator agreed a final deadline for all complaints relating to mis-sold payments protection insurance, and now Martin Lewis […]
Thursday, February 14, 2019
People complaining to the Financial Ombudsman Service (FOS) are facing huge delays on their claims. And this is unacceptable. When financial companies either reject your claim or do not respond to you, it is the turn of FOS to be involved. The role of the FOS is to keep financial firms in line, delivering compensation […]
Thursday, February 14, 2019
The Financial Conduct Authority (FCA) requested that up to 150,000 PPI customers with rejected payment protection insurance claim to be written to and told they can restart their complaint. This follows a Supreme Court ruling back in 2014, where a customer called Plevin was not told that the lender would take commission off her PPI […]
Monday, February 11, 2019
Britain is a nation that does not like to complain. Research by the Financial Conduct Authority (FCA) last year has shown that 28% of people across the UK put up with situations they are unhappy with. The Financial Services Ombudsman (FOS) data in the past 6 months point to an increased influx of complaints on […]
Thursday, February 7, 2019
Apart from Payment Protection Insurance (PPI) and moving £1.7 billion worth of assets to Dublin, Barclays is again in the news. This time because of interest rate manipulation on loans sold to UK councils prior to the 2008 financial crisis. Seven UK councils filed a lawsuit against Barclays at the High Court over controversial bank […]
Tuesday, February 5, 2019
Profits margins for Santander UK fell in 2018 to £1.6 billion from £1.8 billion in 2017. This is due to uncertainty in the financial environment, as well as a strategy of “selective growth” followed. In the Q4 statement for 2018 ending December 31st, the bank reported increased regulatory, risk and control costs. Whilst mortgage lending […]
Monday, February 4, 2019
Payment protection insurance or PPI compensation for Littlewoods Direct customers has soared in 2018. The company has revealed that shopping insurance PPI claims last year climbed to £169 million. This is a staggering 51% increase from 2017. Littlewoods Direct is part of Shop Direct Holdings that also includes brands like Very.co.uk . Even if the […]
