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Payment protection insurance

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Barclays offers refunds to 10000 PPI customers

BBC News - ‎7 hours ago‎
Barclays has sent letters to 10,000 of its customers, offering refunds for Payment Protection Insurance (PPI). It follows the bank's failure to send out thousands of annual statements, which would have reminded customers of their right to cancel.

Fresh scandal hits CBA, adviser mis-sold income protection insurance

Shanghai Daily (subscription) - ‎12 hours ago‎
I am now about to have a serious operation and I said, I've got income protection insurance, and they said, no, no, no, you're not covered," she told ABC TV's The Business.

British companies have paid back nearly £25 billion to customers in the last 5 years

Business Insider UK - ‎Apr 22, 2016‎
The FCA released the data on Friday, which shows that since the scheme to repay mis-sold PPI was launched in 2011, firms in Britain have paid back £23.3 billion to consumers, with a total of £423.9 million paid back in February, the last period for ...

Commonwealth Bank customer denied payout after being sold wrong insurance by planner

ABC Online - ‎15 hours ago‎
I am now about to have a serious operation and I said, I've got income protection insurance, and they said, no, no, no, you're not covered," she told ABC TV's The Business.
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Lloyds profits tumble as it buys back bonds

This is Money - ‎12 hours ago‎
Lloyds Banking Group managed to avoid writing off any more money for mis-sold payment protection insurance but took a hit on calling in its so-called enhanced capital notes.
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Santander UK profits recover after PPI scandal

FT Adviser - ‎Apr 27, 2016‎
Earlier this year, Santander revealed it had set aside another £450m for compensation to customers who had been mis-sold payment protection insurance (PPI), which pushed the bank down to a fourth quarter loss of £82m in 2015. Nathan Bostock, chief ...
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Look past Lloyds' profit plunge

Interactive Investor - ‎10 hours ago‎
Low interest rates are never good for bank sector margins because they limit the yield it can generate from cash deposited by customers.

Lloyds Banking Group sees profits fall 6pc to £2.1bn

Norfolk Eastern Daily Press - ‎12 hours ago‎
The group said it took no further charges for the payment protection insurance (PPI) mis-selling scandal. It saw statutory pre-tax profits fall 7pc to £1.64bn in 2015 after taking a £2.1bn PPI hit. But the group said in its latest update that PPI ...
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UK's big four banks face £19bn in compensation, fines and legal costs

The Guardian - ‎Apr 26, 2016‎
This is, in part, because of an expectation that the cost of the PPI scandal, which has reached £34bn, will ease off. “We maintain our view that 2016 will likely be the last year for mega conduct and litigation charges.

Laurie Taylor – 28 April 2016

Times Higher Education (THE) - ‎22 hours ago‎
... space for the further development of those current Poppleton degree courses in Hedge Fund Management, Insider Trading, Libor Fixing, Neoliberal Economics, Tax Evasion and Payment Protection Insurance, which currently produced such very satisfactory ...
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New 0845 mobile phone scam charges customers £300 for calls they don't make

ITV News - ‎Apr 27, 2016‎
A sophisticated new mobile phone scam is charging customers hundreds of pounds for calls they don't make. Victims are being hit with huge bills after being contacted by numbers beginning in 0845 or 0843.

Lloyds sets aside £115m as profits fall

Money Marketing - ‎12 hours ago‎
... set aside £115m for “retail conduct” issues as pre-tax profits for the first three months fell 46 per cent to £654m. The bank has refused to disclose what the provision relates to, but has not set aside any extra money for missold payment ...
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Barclays confirms interest in Africa arm as profits slump by 25%

The Guardian - ‎Apr 27, 2016‎
A year ago the bank's profits were knocked by £1bn of charges in anticipation of fines for rigging foreign exchange markets and more payouts for payment protection insurance. This quarter the charge for such misconduct was £78m. Staley has created two ...
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ALEX BRUMMER: Britain defies the odds despite what its gloom merchant chancellor might be saying

This is Money - ‎Apr 27, 2016‎
These include a settlement with the US Justice Department over mortgage securities, further provisions against payment protection insurance selling and a long-running Serious Fraud Office inquiry over funding from the Gulf. He also has to demonstrate ...

On a mission: Protecting clients from the lifetime allowance cut

Professional Adviser - ‎11 hours ago‎
While the FP16 and IP16 are relatively simple to understand, and work on the same basis as the 2014 versions, valuing rights for individual protection purposes can be complex, particularly when drawdown was in payment prior to A-Day. To be eligible for ...

Fairfax Financial Holdings Limited: First Quarter Financial Results

Marketwired (press release) - ‎35 minutes ago‎
All of our major insurance companies again had combined ratios less than 100%, with Fairfax Asia at 76.5%, Zenith National at 83.4% and OdysseyRe at 90.3%.
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FCA to review how it runs redress schemes

Money Marketing - ‎Apr 27, 2016‎
Speaking to the Treasury committee earlier yesterday, FCA chairman John Griffith-Jones says Bailey will work with the regulator's board to draw upon its experience of dealing with issues including missold payment protection insurance and interest rate ...

Round Up - Lloyds, Deutsche, Facebook

Director of Finance online - ‎13 hours ago‎
No further provisions were made for Payment Protection Insurance payments. “These results demonstrate the strength of our differentiated, simple, low risk business model and reflect our ability to actively respond to the challenging operating ...
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Imperial Brands rebounds on easing sales fears

Financial Times - ‎Apr 25, 2016‎
The domestic banks slipped after the Financial Conduct Authority said payment-protection insurance compensation payouts had surged 35 per cent month on month in February.

Consumer Financial Protection Bureau: Limiting Americans' Credit Choices

Heritage.org - ‎1 hour ago‎
The Consumer Financial Protection Bureau (CFPB) was established under Title X of Dodd–Frank to “regulate the offering and provision of consumer financial products or services under the Federal consumer financial laws.
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