10/03/2010 - Treasury attacks bonus bingeing | 10/03/2010 - PPI complaints against bailout banks soar | 09/03/2010 - Credit Card Reclaim: Cut credit card debt by 17 years | 09/03/2010 - PPI: Report slams bailout banks' 'aggressive' customer tactics | 09/03/2010 - Bank Charges: UK government 'cannot afford' more bank bailouts | 08/03/2010 - Bank charges: New system will 'take time' for customers to accept | 08/03/2010 - Bank charges: £480m in reclaims still up for grabs | 08/03/2010 - Bank charges: Tories propose 'people's bank bonuses' | 05/03/2010 - Bank charges leading to thousands of complaints | 05/03/2010 - Credit card charges: Attitudes towards plastic 'must change'

Latest PPI News

Latest PPI Claim News

Treasury attacks bonus bingeing

Treasury spokesman Vince Cable has attacked the bonus bingeing of the bailout banks.Speaking at Reform Scotland, a think tank in Edinburgh, the Liberal Democrat criticised the part-nationalised banks'...

10/03/2010

PPI complaints against bailout banks soar

Mis-sold payment protection insurance (PPI) has seen the number of complaints about the publicly saved banks soar, a new report reveals.According to figures from the independent Financial Ombudsmen S...

10/03/2010

Credit Card Reclaim: Cut credit card debt by 17 years

The amount of interest laid on credit card repayments and card charges can be drastically reduced by tapping into savings, a financial advice website has found.Moneysupermarket.com claims that the cur...

09/03/2010

PPI: Report slams bailout banks' 'aggressive' customer tactics

Taxpayer-funded banks are using "aggressive" tactics to target vulnerable consumers, a new report has claimed.Westminster's Scottish affairs committee revealed that the part-nationalised ban...

09/03/2010

Bank Charges: UK government 'cannot afford' more bank bailouts

The UK government "cannot afford" further bank bailouts and therefore must execute its withdrawal of banking support cautiously.That is the view of Moody's Investors Service which claimed th...

09/03/2010

Bank charges: New system will 'take time' for customers to accept

Virgin Money's intention to charge monthly payments for its current accounts rather than rely on overdraft fees will not be immediately greeted by customers.This is the suggestion of Informed Choice c...

08/03/2010

Bank charges: £480m in reclaims still up for grabs

Consumers could be entitled to claim as much as £480 million in bank charges despite the recent Supreme Court ruling in favour of banks.That is according to the Telegraph, which explains that peo...

08/03/2010

Bank charges: Tories propose 'people's bank bonuses'

Consumers could be given the chance to buy shares in Royal Bank of Scotland (RBS) and Lloyds Banking Group at reduced prices when they are re-privatised.Under Tory party proposals, individual househol...

08/03/2010

Bank charges leading to thousands of complaints

High street banks dominated the list of financial institutions receiving the most complaints in the second half of 2009 with payment protection insurance (PPI) a major source of dispute, according to ...

05/03/2010

Credit card charges: Attitudes towards plastic 'must change'

Consumer attitudes towards credit cards need to change if people are to avoid credit card charges in the future.That is according to the Association of British Credit Unions Limited, which warned that...

05/03/2010

Bank Reclaim: Bank keeps the 'base' turned down low

Economists have predicted that the Bank of England (BoE) base rate will remain at a historic low today.On what is the first anniversary since the Bank took its rate down to 0.5 per cent, the lowest it...

04/03/2010

Credit Card Reclaim: Debt causes 'financially excluded' generation

Rising consumer debts and recession-fuelled poverty have created a generation of the "financially excluded", according to Citizens Advice.Speaking at the Northern Money Conference 2010 at th...

04/03/2010

Loan Claim: The only way is up for house rates

With the Bank of England (BoE) base rate at a current low of 0.5 per cent, interest rates can only increase in the near future.The BoE base has revealed that its rate could reach 6.5 per cent over the...

03/03/2010

Bank Charges: Bonus tax quadruples as banks give bumper payouts

Revenue from the supertax imposed on bank bonuses is expected to surpass predicted levels by up to four times as much.In December 2009, when the chancellor first introduced the bonus tax, which takes ...

03/03/2010

Bank Claim: HSBC dishes £40m to a handful of staff

HSBC has today added fuel to the fire surrounding the bankers' bonuses debacle after it dished out almost £40 million to a handful of staff.The international banking giant paid out £38 milli...

03/03/2010

Bank Reclaim: 'Outlook is cloudy' for taxpayer-owned banks

The future of two UK financial institutions that became part-nationalised during the banking crisis is looking "cloudy".That is according to the Observer business editor Ruth Sutherland who ...

02/03/2010

Payment Protection Reclaim: Lack of credit is fuelling fraud, says expert

A lack of available consumer credit is fuelling the number of identity frauds, one expert has claimed.Fraudscape, a report published yesterday by the UK's fraud prevention service CIFAS, showed that t...

02/03/2010

Loan Insurance: Home loans drop despite rising consumer credit

The number of approved home loans has dropped despite a rise in consumer credit, figures from the Bank of England show.In it's latest Lending to Individuals Report published yesterday (March 1st) it s...

02/03/2010

Bank Claim: Buffett joins the banker bashing

Billionaire investor Warren Buffett has joined the current wave of banker bashing.In a letter to shareholders of the conglomerate holding company Berkshire Hathaway, Mr Buffett attacks the "derel...

01/03/2010

Payment Protection Insurance: Reports bankers are 'fleeing' supertax

A Swiss newspaper has claimed that a number of London-based bankers from Credit Suisse and UBS are fleeing the capital to avoid the supertax.According to NZZ am Sonntag, up to 200 employees are schedu...

01/03/2010

Bank Reclaim: Break up the banks it's a 'fool's paradise' says governor

Mervyn King, the governor for the Bank of England, has claimed that the banks must be scaled down to bolster economic sustainability.Speaking at the Future of Banking Commission, sponsored by the cons...

26/02/2010

Bank Charges: Taxpayer bank's £6.3bn loss

The part-nationalised Lloyds Banking Group (LBG) has reported losses for 2009 in excess of £6.3 billion today.Its debts have been attributed to the acquisition of the financially burdened HBOS in...

26/02/2010

Bank Reclaim: RBS billion pound bonus bonanza despite huge loss

Royal Bank of Scotland (RBS) is to plough ahead with its high-scale pound bonus payouts despite recording a multibillion pound loss for 2009.The part-nationalised bank, which is 84 per cent owned by t...

25/02/2010

Credit Card Charges: Banks will find new ways to 'recoup' consumer cash

Banks will look to new ways to "recoup" financial losses if excessive overdraft charges are dropped, a financial expert has claimed.Andrew Hagger, spokesperson for financial advice website M...

25/02/2010

Credit Card Charges: Banking strains keeping rate low, says BoE

The prolonged strain on the banking system could see a further freeze on interest rates and the return of quantitative easing (QE), a leading financial figure has revealed.Paul Tucker, financial stabi...

24/02/2010

Payment Protection Insurance: Lloyds TSB's uncharitable act of 'vandalism'

Lloyds TSB has been described as showcasing an unethical act of "determined vandalism" following the news that it is to cut its charitable arm.Over the past 25 years, the Lloyds TSB Foundati...

24/02/2010

Bank Charges: Break up the banks and force them to lend, say Lib Dem

Liberal Democrat Treasury spokesman Vince Cable yesterday advised that banks should be broken up and forced to lend.He said whichever party is elected to government this year must make sure there are ...

24/02/2010

Bank reclaim: The real 'victims' are savers

In the middle of a backlash against bankers the real "victims" are still the savers, a leading financial journalist has claimed.Justin Harper said hiked credit card charges, low interest rat...

23/02/2010

Loan Claim: Overdraft charges taking consumers into the red

Consumers who find themselves borrowing from their overdrafts are facing increased charges, bringing them further into the red, a new report suggests.Research by financial advice website moneynet.co.u...

23/02/2010

Bank Charges: Poll confirms public anger at banks

The public desire for a crackdown on the excessive banking culture has been highlighted in the findings of a new poll.Compass, a left-leaning thinktank[comma] commissioned the YouGov study, which reve...

22/02/2010

Bank Reclaim: People's bonus from bail out banks

Taxpayers could be offered discount shares in the state-owned bail out banks, under new Conservative proposals revealed yesterday. Shadow chancellor George Osborne said individuals could be offered th...

22/02/2010

Payment Protection Insurance: Major loss predicted for RBS

The state funded Royal Bank of Scotland (RBS) is expected to report huge financial losses for 2009.On Friday the bank will release its annual report for the previous financial year, with many analysts...

22/02/2010

Loan Reclaim: Higher inflation is lowering savings, warns expert

Low interest rates coupled with rising inflation is "very damaging" for savers, a financial expert has warned.Martin Bamford, chartered financial planner for Informed Choice, said high infla...

19/02/2010

Bank Reclaim: 'It is not much fun working at RBS'

A city banker has revealed that in the middle of a public backlash against the banks "it is not much fun" working at the Royal Bank of Scotland (RBS).In an interview with the Daily Mail, the...

19/02/2010

Bank charges: Bank reveals 'worrying' decline in finance

The decline in finance being made available to smaller firms s is "very worrying", a business expert has claimed. John Wright, national chairman of the Federation of Small Businesses (FSB), ...

19/02/2010

Loan protection: Home loans need to be more 'competitive'

Mortage lending is likely to have a "slow start" to the year due to a lack of competitiveness in the market, an expert has warned.Bernard Clarke, spokesman for the Council of Mortgage Lender...

18/02/2010

Loan Insurance: Poor finances are the burden of the nation

Almost of half of all UK adults say financial pressures are damaging their health and relationships, new research suggests.Some 45 per cent of people reported the physical and emotional effects that t...

18/02/2010

Credit Card Charges: Credit card rates are 'stinging consumers'

Excessive credit card rates are ensuring that customers are trapped in a "vicious circle" where they are repeatedly stung, according to one financial expert.Phil Perry, director of Ark Finan...

17/02/2010

Bank Charges: Barclays' 'shameless' bonus bonanza

Barclays bank is to dish out millions of pounds in staff bonuses after reporting bumper profits for 2009.The company, which is Britain's second largest bank, is expected to handout £95,000 each t...

17/02/2010

Bank Reclaim: First MP offers backing to Robin Hood bank tax

A Welsh MP has become the first cabinet minister to give his backing to the so-called Robin Hood Tax.Welsh Secretary Peter Hain has pledged full support to the campaign initiated by UK musician Billy ...

16/02/2010

Personal Protection Insurance: 'unhealthy' rates hammering savers

Savers are in for a rough ride this year unless the Bank of England (BoE) improves its rates, a financial expert has claimed.Commenting on research by moneysupermarket.com, which suggested that the fi...

16/02/2010

Credit Card Charges: Businesses turn to credit cards as banks refuse loans

Increasing numbers of small businesses are turning to credit cards for finance as they fail to gain small loans from the banks.In a poll of 1,000 businesses, the Institute of Directors (IoD) found tha...

16/02/2010

Bank Charges: Five year wait to get money back from banks

The UK taxpayer may face a five year wait before they can expect to receive a repayment on the billions of pounds in public money used to bailout several key banks.UK Financial Investments (UKFI), whi...

16/02/2010

Bank Reclaim: Bankers slash dividend payouts

The banking sector has slashed the income earned on shareholders' investments by more than half, new statistics show.Figures released by Capita Registrar's Dividend Monitor, which analyses data provid...

08/02/2010

Loan Protection: Banks still 'need government support' to offer mortgages

Britain's banks are still depending on government support in order to administer home loans, the Council of Mortgage Lenders (CML) has claimed.In a paper set out to policy makers, the CML warn that bo...

08/02/2010

PPI: Bank facing £7bn debts to begin bonus payouts

Despite facing an estimated £7 billion of debt, the Royal Bank of Scotland (RBS) is expected to pay out billions in bonuses.The 84 per cent taxpayer owned bank could hand out up to £1.3 bill...

08/02/2010

Bank Claim: Bank of England stops the cash flow

The Bank of England (BoE) has announced it is to pause its Quantitative Easing programme after pumping £200 billion into the economy.The move by the Bank's Monetary Policy Committee (MPC) was wid...

05/02/2010

Credit card Claim: UK insolvency hits an all-time high

The number of people in England and Wales who declared insolvency last year has hit an all-time high, new research reveals.Figures from the Insolvency service show 35,574 people were declared insolven...

05/02/2010

Credit Card Reclaim: Personal loan rates are 'awful'

"Awful" interest rates on personal loans are preventing people from showing consumer confidence, a finance expert has claimed.Ed Bowsher, head of consumer finance at lovemoney.co.uk, believe...

04/02/2010

Bank Charges: Bankers 'pip' up thanks to bonus windfall

A number of city bankers are set to benefit from a quirk in the system that will result in a windfall of millions of pounds worth of bonuses.Credit Suisse's payment incentive programme (pip) was set u...

04/02/2010

Bank Claim: Bankers show a 'glaring absence of ethics'

Bankers should be forced to take a Hippocratic style oath in order to restore faith and public confidence in the sector.That is the opinion of fund manager Andrew Tulloch, joint managing partner at Fi...

04/02/2010

Credit Card Claim: Consumer debt is limiting personal savings, says expert

Mounting credit card debts and mortgage repayments are preventing consumers from being able to keep satisfactory savings, an expert has claimed.Moneynet spokesperson Andrew Hagger said that low intere...

03/02/2010

Bank Reclaim: Treasury pushes for stricter scrutiny on bankers

The city minister Lord Myners has urged fund managers to impose tighter scrutiny on banking professionals in a bid to curb large payouts.On behalf of the Treasury, Lord Myners wrote a detailed letter ...

03/02/2010

Credit Card Reclaim: Businesses forced into self-reliance as banks refuse to lend

An increasing number of businesses have been forced to become self-reliant as they fail to secure essential funding from the banks, a new report suggests.The Voice of Small Business, an annual survey ...

02/02/2010

Bank Charges: RBS continue bonus rewards despite public outrage

In the face of public outrage the Royal Bank of Scotland (RBS) has announced it is to continue rewarding its highest performers with big bonus schemes.Detailed in a letter to investors yesterday, the ...

02/02/2010

Bank Charges: Davos banking forum spawns 'few achievements'

The economic forums held in Davos last week have produced "few plans or real achievements", analysts claim.In a week that saw plenty of "banker bashing" there are little signs of r...

01/02/2010

Bank Claim: Report reveals poor standard of Banking

One of the world's largest credit rating agencies has "downgraded" its assessment of British banks.Standard and Poor's report Banking Industry Country Risk Assessment: United Kingdom, reveal...

29/01/2010

PPI Charges: Poll shows Brits don't trust the banks

A quarter of all Britons do not trust their banks at all, a new poll has revealed.Research from financial advice website money.co.uk found that only seven per cent of those asked truly trust their ban...

28/01/2010

Bank Claim: Bankers hold a secret date with Darling

Bankers from across the UK and America are to attend a secret meeting with the chancellor Alistair Darling tomorrow.The union will allegedly involve banking chiefs from the UK's HSBC, Barclays and Sta...

28/01/2010

Bank Refunds: 'UK's tiny exit from recession is quite worrying'

As the UK exits the longest recession since records began experts say it is "quite worrying" how close a call it was.Figures released by the Office for National Statistics (ONS) yesterday re...

27/01/2010

PPI Claim: Battle of the bankers

When times are tough we're often told to look after our own, but one group of bankers are defying that unwritten law and have attacked their counterparts.Bankers at Barclays, Britain's second largest ...

27/01/2010

Loan Refunds: Personal debt is a 'big worry' for consumers

High levels of personal debt will remain a big worry for consumers over the next six months, a survey suggests.The latest figures from the Nielsen-British Retail Consortium (BRC) consumer confidence s...

27/01/2010

PPI Claim: HSBC chairman condemns 'distorted' bonus schemes

The chairman of the UK's largest bank has attacked the system that awards millions of pounds to bankers in bonuses.In an interview with the Financial Times, HSBC's Stephen Green, who also chairs the B...

26/01/2010

Bank Charges: Bankers still 'expecting' big bonuses

The vast majority of bankers are still expecting big bonuses this year despite efforts to curb payouts, a new survey suggests.A survey by eFinancialCareers.com found that around 92 per cent of Wall St...

26/01/2010

Credit Card Charges: Credit card debt is 'crippling' consumers

Misuse of credit cards is amounting to increasing levels of debt and crippling consumers, a new report suggests.During January alone, Debt solutions website IVA.com has witnessed a 75 per cent jump in...

25/01/2010

Bank charges: Lord Myners joins G7 to 'tackle the banks'

Lord Myners, the city minister, is today meeting with the G7 in Downing Street to discuss reforms for the banking system.The representatives from the world's seven largest economies are expected to di...

25/01/2010

Payment Protection Reclaim: Tories back rigorous US bank reforms

The UK Conservative party has pledged to back US proposals to reform "risky" banking strategies if they win the next election.David Cameron's party, which will go head-to-head with Labour in...

22/01/2010

Credit Card Charges: Barclays may need to raise £17bn, says analyst

Barclays could be forced to increase its bank charges as it seeks to raise new funds. According to a financial expert, Britain's second biggest bank may need to generate £17 billion in order to m...

22/01/2010

Loan Claim: Lloyds to axe personal loan centres

Britain's largest mortgage lender Lloyds Banking Group (LBG) has announced it is to close all 58 of its consumer loan centres, axing almost 600 jobs nationwide.The latest job losses come after a strin...

22/01/2010

Bank Refunds: Banking stocks plummet as Obama targets 'bank greed'

Shares in some of the UK's leading banks have plummeted this week following US president Obama's war on the Wall Street banking giants.Many investors have shifted their shares since Monday as the futu...

22/01/2010

Payment Protection Claim: Recession 'increases fraud levels'

The average person is being defrauded of nearly £2,500 as the recession leads to an increase in fraudulent transactions, a financial expert has claimed.Statistics from life assistance company CPP...

21/01/2010

Bank Refunds: Goldman caps 'excessive' UK bonuses

Goldman Sachs is the latest bank to announce it will slash the amount of bonuses paid out to staff.The American banking giant revealed today that employees at its London division would not be receivin...

21/01/2010

Credit Card Charges: Credit card changes are 'too little, too late'

Proposed changes to the way consumers pay down credit card debt are "too little, too late", according to a financial expert.Measures put forward by the UK Cards Association include the requi...

20/01/2010

Bank Reclaim: Bad news for banks as credit card write-offs double

British banks have been forced to write off an increasing number of bad debts on their credit cards, new figures from the Bank of England reveal.In the third quarter of 2009 £1.6 billion of credi...

20/01/2010

Payment Protection: 'Bank of England is relying on consumer lethargy'

The Bank of England is relying on consumer lethargy to hold down interest rates, an expert has claimed.Commenting on the news that consumer inflation soared in December, when it jumped a record one pe...

19/01/2010

Bank Charges: Boris does a u-turn on bankers' bonuses

The mayor of London Boris Johnson has done an apparent u-turn regarding his stance on the bankers' bonuses debate.Last week the mayor warned that up to 9,000 bankers may be persuaded to leave the capi...

19/01/2010

Loan Claim: UK economy faces painful decade

Britain faces a decade of "painful economic adjustment", a study has revealed.Economic forecast group Ernst and Young Item Club warned that UK consumers are completely "cashed out"...

19/01/2010

Bank charges: Billy Bragg's protest against the bankers

Musician Billy Bragg has vowed not to pay his income tax until the government caps bankers' bonuses.In a letter to the chancellor Alistair Darling the 52-year-old singer and political activist said he...

18/01/2010

Bank charges: Families seek out loan sharks as consumer credit drops

The number of families forced to seek out loan sharks for credit has soared as consumer borrowing falls, a survey reveals.The Real Cost of Christmas, a report published by Circle Anglia and authored b...

18/01/2010

PPI refunds: Investment bank unveils bonus pot

US bank JPMorgan Chase has announced that it intends to pay out millions of pounds in bonuses to its employees after posting profits of $11.7 billion (£7.19 billion).Pay, including bonuses and sa...

15/01/2010

PPI Claim: Minister defends RBS bonuses

Financial services minister Lord Myners has defended the Royal Bank of Scotland Group's (RBS) bumper bonuses.When questioned by the House of Commons Treasury Select Committee, he said that the bank ne...

14/01/2010

Loan Insurance: Bank of Scotland slammed by small businesses

The Bank of Scotland's services for small enterprises have been criticised for changes to the way the firm handles its business customers, the BBC reports today (January 14th).Having moved its busines...

14/01/2010

Bank Charges: President unveils bank tax plan

US president Barack Obama has outlined plans for a levy on bank profits with a tax he hopes will raise billions of dollars.He has promised to recover "every single dime" spent on bailing out...

14/01/2010

PPI becoming less popular, new statistics show

Payment protection insurance (PPI) has topped a list of policy types which consumers are reluctant to take out.That is according to new figures from the Association of British Insurers (ABI), which sh...

14/01/2010

Bank claim: Bank conman jailed

A man used publicly-available details to spy on people and access their bank accounts as part of a major fraud, the Scotsman reports.Kevin Greenhill used public records to find out the maiden names of...

13/01/2010

Credit Card PPI: Johnson warns of banker exodus

London mayor Boris Johnson has criticised the government's bonus tax, warning that it could lead to many bank employees moving abroad which would damage the capital in the long term.He estimates that ...

13/01/2010

PPI Claim: Banker defends bonus culture

Bank boss Stephen Hester, chief executive of the Royal Bank of Scotland (RBS), has defended the need for large bonuses in the financial services sector.Speaking to a committee of MPs, he made the comm...

13/01/2010

PPI complaints set to rise

The Financial Ombudsman Service (FOS), the body which arbitrates on consumer complaints against banks and finance providers, expects to receive a record number of complaints regarding payment protecti...

13/01/2010

PPI Refunds: "My parents think I'm overpaid", banker tells MPs

A leading bank executive has told MPs that even his own parents think he earns too much for his job, the Guardian reports today (January 12th).Stephen Hester of the Royal Bank of Scotland (RBS) made t...

12/01/2010

Credit Card Claim: Supermarkets' banking role growing

Supermarkets are taking on a bigger role as financiers and are making inroads into the banking sector.That is according to a report by comparison website uSwitch.com, which found that supermarket fina...

12/01/2010

PPI can be reclaimed easily, says super saver Martin Lewis

Consumers who have been mis-sold payment protection insurance (PPI) should ensure that they take the few minutes to apply to get their money back, founder of MoneySavingExpert.com Martin Lewis has tol...

12/01/2010

Loan Refunds: Bonus pot to top £40 billion

Senior bankers may need to brace themselves for further public anger over their bonuses and pay packages, according to a report by the Independent today (January 12th).Specialist law firm CM Murray pr...

12/01/2010

Bank claim: President considers bonus levy

President Barack Obama is considering the option of a one-off bank tax following the UK government's decision to levy a charge last month on bank employees' bonus payments.The US government has suppor...

12/01/2010

Bank Claim: Bonus clampdown on £1 million earners

The Financial Services Authority (FSA) has announced a new clampdown on bankers' bonuses which will hit bank employees who earn more than £1 million through their salary and bonus.Reportedly, the...

11/01/2010

PPI Refunds: Bank bosses 'offered alternatives to bonuses'

Banks are offering their employees different incentive packages in the wake of the public row about bonus payments, the Irish Times reports today (January 11th).Instead of bonuses, workers are receivi...

11/01/2010

Virgin Money considers offering PPI with retail banking move

Virgin money has said that it is considering selling payment protection insurance (PPI) as it begins its move into high street banking, the Financial Times reports today (January 8th).Sir Richard Bran...

08/01/2010

Bank claim: Bankers face Commons grilling over bonuses

The Commons Treasury Select Committee is set to question bank bosses over the level of bonuses received by employees in the financial services sector, the Guardian reports.Stephen Hester, chief execut...

08/01/2010

Loan Insurance: Central banks meet to curb risk-taking

The central banks of many countries from across the world are gathering in Switzerland amid concern that the excessive risk-taking which triggered the 2008 financial crisis is making a return among ba...

07/01/2010

PPI Refunds: Bankers warned against 'business as usual'

Bankers have been warned against carrying on with a 'business as usual' attitude by a senior Member of Parliament.John McFall MP, who chairs the Commons Treasury Select Committee, said many employees ...

07/01/2010

Bank Reclaim: Bank manager accused of stealing almost £1m

A bank manager has been accused of stealing over £900,000 which was meant for cash machines by stealing batches of money, a court has heard.Ania Wadsworth, an employee of Lloyds TSB, is accused o...

07/01/2010

Bank claim: Iceland's president vetoes repayment plan

Iceland's president Olafur Ragnar Grimsson has rejected a plan which would see the country pay for the refunding of British consumers who lost out as a result of online bank Icesave folding in 2008, t...

06/01/2010

Customers warned to avoid PPI rip-offs

Consumer journalist Neil Faulkner of Lovemoney.com has warned customers of the high cost of payment protection insurance (PPI) policies.Having conducted research into PPI, he found that some policies ...

06/01/2010

Loan charges: Bonus tax 'fails to curb banker pay'

The government's one-off bonus tax has been branded a failure, the Financial Times reports.Announced in last month's Pre-Budget Report, the levy was applied at a rate of 50 per cent on all bonus payme...

06/01/2010

PPI Charges: Bankers push up property rates

Commercial property rates in London are soaring because of banks and financial services companies, it has been reported.Property firm King Sturge has predicted that commercial property rents could ris...

06/01/2010

Customers warned to avoid Payment Protection Insurance

People buying cars have been warned that they should not buy protection insurance (PPI) by Thisismoney.co.uk.Simon Lambert and Andrew Oxlade, in their guide to the dos and don'ts of taking out a loan ...

05/01/2010

PPI Charges: RBS drops sale proposal

The Royal Bank of Scotland Group (RBS) has abandoned plans to sell its Pakistan operations to MCB Bank, it has been announced.Having failed to obtain regulatory approval, the deal, which was announced...

04/01/2010

Bank reclaim: Goldman Sachs bankers may quit UK

International investment bank Goldman Sachs is reviewing its British operations and considering whether to shift departments overseas in response to the government's bonus tax.The bank is reportedly l...

04/01/2010

Credit Card PPI: Northern Rock split made official

The division of failed bank Northern Rock into two separate entities has been officially enacted.Having been taken over the government in 2008 after exposure to the US sub-prime market, it has been sp...

04/01/2010

Bank Claim: Icesave compensation agreed

An agreement has been reached after talks concerning online bank Icesave, which folded in 2008. Thousands of UK citizens had internet accounts with the bank, which was owned by Icelandic firm Landsban...

31/12/2009

Credit Card Charges: Icelandic bank 'owes RBS £500m'

The Royal Bank of Scotland Group (RBS) is owed as much as £500 million by an Icelandic bank which folded in the 2008 global financial crisis, it has emerged.Although a spokesman for RBS has said ...

31/12/2009

VAT increase could leave over 50s facing bank charges

The planned rise in VAT will hit the over 50s the hardest and could leave many falling into unauthorised overdrafts and facing subsequent bank charges.According to insurance provider RIAS, the 2.5 per...

30/12/2009

PPI Charges: The Noughties in retrospect

The last decade is one that has been characterised by financial strife, with "widespread problems" regarding payment protection insurance (PPI) one thing leaving a bad taste.That is accordin...

30/12/2009

Loan charges could escalate as Brits fall into debt

Brits are falling back into debt, something that could signal growing uncertainty surrounding an economic recovery.Research from Unbiased.co.uk indicates that bank and loan charges could be on the car...

29/12/2009

Bank charges could remain prevalent in 2010

Bank charges could remain a large risk factor for many consumers in the year ahead, with just one in five expecting the economy to mount a recovery in 2010.That is according to research by Gocompare.c...

29/12/2009

PPI claims could increase following New Year's resolutions

There could be a glut of PPI claims this January, if the nation's New Year's resolutions are anything to go by.According to research by Gocompare.com, some 27 million people intend to make a resolutio...

29/12/2009

Big Christmas spenders could face January bank charges

Consumers who spend big this Christmas having been paid early in December could struggle to tide themselves over until their first payday of the New Year, it has been warned.With many employers paying...

21/12/2009

Loan charges: Car loans likely to remain 'scarce' in 2010

Demand is picking up among motorists for car finance, but lending is likely to remain tight for much of 2010, it has been suggested.According to the Retail Motor Industry Federation, point-of-sale car...

18/12/2009

Bank charges: Economic recovery 'a long way off'

Consumers could suffer at the hand of steep bank charges for some time if one analyst's glum economic outlook rings true.According to BNP Paribas, the UK economy is likely to remain in turmoil for som...

18/12/2009

Bank charges: Future of British banking to be debated

A new taskforce has been established to provide a focus for the public debate on Britain's banking system and how it could be improved in the future.One topic of conversation for MPs David Davis, John...

17/12/2009

Christmas shoppers urged to avoid store card PPI

Payment protection insurance (PPI) charges attached to most store cards are a "disgrace", it has been suggested.According to Love Money, many retailers will be convincing consumers to take o...

17/12/2009

Bank Charges: Banks 'to blame for credit crisis'

A large number of Britain's private investors believe that banks must take the blame for plunging the UK into recession, something that has left many facing unfair bank charges they cannot pay.Accordi...

16/12/2009

ABI welcomes consultation that could impact PPI charges

Proposals that could have a large impact on the market for payment protection insurance (PPI) have been welcomed by the Association of British Insurers (ABI).The trade-body, which represents the inter...

16/12/2009

Bank Charges: Liberal Democrats criticise scrapping of cheques

The Payment Council's decision to phase out the use of cheques is "scandalous" and "self-serving", an MP for the Liberal Democrat party has claimed.It was revealed this week that b...

16/12/2009

Loan Charges: Higher rates used to 'fund interest rate cuts'

While the Bank of England's base rate remains at an all-time low, personal loan rates continue to rise, leaving more people facing the possibility of suffering steep loan charges as they struggle with...

16/12/2009

Loan Refunds: Darling considers bonus tax extension

Chancellor Alistair Darling is considering extending the time period of the bonus tax outlined in the Pre-Budget Report last week, the First Post reports.The possible extension is aimed at ensuring th...

15/12/2009

Banks are cashing in with PPI

Banks are using payment protection insurance (PPI) charges as a way of subsidising low interest rates despite low claim rates, the Daily Herald reports.Despite the recent Supreme Court ruling in favou...

15/12/2009

PPI Refunds: RBS boss says bonuses are necessary

A leading bank executive has slammed Alistair Darling's decision to tax bankers' bonuses and claimed that it will damage banks' ability to recruit the best employees, the Guardian reports.Sir Philip H...

15/12/2009

Loan Insurance: Banks raise cost of loans

The cost of a personal loan from a bank has increased despite record low interest rates, the Daily Telegraph reports today (December 14th).The cost of a £5,000 personal loan has risen by 1.54 per...

14/12/2009

PPI: President Obama criticises 'fat cat' bankers

US president Barack Obama has hit out at bankers' bonuses.In an interview with television channel CBS, he said that he understood public outrage at bankers' earnings, commenting: "I did not run f...

14/12/2009

Bank refunds: Cleaners 'worth more than bankers'

Hospital cleaners perform a more useful function in society and create more wealth than bankers.That is according to a report released today by the New Economics Foundation which attempts to put a val...

14/12/2009

Bank Refunds: Goldman Sachs axes bonuses

Investment bank Goldman Sachs has announced that it will not be paying out cash bonuses to its senior employees this year.The top 30 employees at the American firm will instead receive shares which th...

11/12/2009

Loan Protection: Bankers claim tax 'infringes human rights'

Bankers are hoping to claw back their Christmas bonuses by claiming that a one-off government bonus tax infringes their human rights, the Times reports today (December 11th).The attorney general Baron...

11/12/2009

Credit Card Charges: Bankers 'would have been shot'

If they existed in Stalin's Russia instead of twenty-first century Britain, bankers would have been shot for their greed.That is according to the Daily Mail columnist Max Hastings, writing in the news...

10/12/2009

PPI Reclaim: Bankers need 'culture change'

Chancellor of the exchequer Alistair Darling has called for a cultural shift in the UK's banking sector following yesterday's announcement of a one-off 50 per cent levy on bonus payments, Bloomberg re...

10/12/2009

Loan Charges: Bankers 'would have avoided windfall tax'

Bankers have said they would have attempted to get around any windfall tax on their bonuses applied by the government.Chancellor Alistair Darling was expected to apply a one-off tax to bankers' bonuse...

09/12/2009

Credit Card PPI: Bankers told to 'wake up'

A senior financial figure has accused bankers of failing to understand the scale of the financial crisis and adopting a 'business as usual attitude'.The comments were made by economist Paul Volcker, w...

09/12/2009

PPI Charges: Darling decides against bonus windfall tax

Chancellor of the exchequer Alistair Darling has announced that he will not be levying a windfall tax in the government's pre-budget statement today (December 9th).However, he has announced a 50 per c...

09/12/2009

Bank claim: One thousand bankers leave RBS for more money

The Royal Bank of Scotland Group (RBS) has lost 1,000 employees from its investment banking arm after fears that their bonuses would be reduced through the government's proposed windfall tax, the Pres...

08/12/2009

PPI reclaim: Top banker slams bonus tax

A leading bank executive has fiercely criticised chancellor Alistair Darling's suggestion that a windfall tax could be levied on bankers' bonuses this Christmas. Robert Diamond, who is president of Ba...

08/12/2009

Charged for payment protection without being covered

A consumer was driven into debt by payment protection insurance (PPI) on his Barclaycard credit card without being fully covered by the policy.The individual wrote to the Independent's financial advic...

07/12/2009

PPI Claim: Bankers up in arms over windfall tax threat

Bankers have reacted angrily to the suggestion that their bonuses might be reduced with a government windfall tax.Highly-paid bank bosses had expected to be able to take home thousands this Christmas,...

07/12/2009

Bank Refunds: Chancellor considers windfall tax

Chancellor of the exchequer Alistair Darling is looking into the option of imposing a windfall tax on bankers' bonuses.The proposal is expected to be included in this week's pre-budget report which wi...

07/12/2009

Criminals ran PPI scam

An organised gang of criminals have been running a fraudulent payment protection insurance scheme which has stolen millions of pounds from people in Britain, the Times reports.Jobseekers are being foo...

04/12/2009

PPI Charges: Barclays raises senior salaries by 150%

While other banks are being forced to crack down on the 'bonus culture' in the financial services sector, Barclays is preparing to boost the salaries of its top staff.This would see some bankers get a...

04/12/2009

Credit Card Reclaim: Lloyds cuts staff pensions but pays bonuses

Thousands of staff at Lloyds Banking Group could see their pension payments fall under new plans issued by the firm this week.The move has sparked a row as senior management are set to receive large b...

04/12/2009

Loan Insurance: Bankers warn EU on regulation

Bankers have said they will not tolerate new regulation imposed through the European Union.Angela Knight, chief executive of the British Bankers' Association (BBA) seized on recent comments made by Ni...

03/12/2009

Credit Card PPI: Bankers threaten to quit to save £1.5bn bonuses

The board of directors of the Royal Bank of Scotland (RBS) have said they may resign in response to government attempts to curb the size and terms of the bonuses they can pay.Having paid out £1 b...

03/12/2009

Bank Claim: Brits urged to save for a year for Christmas

Brits will get themselves into £8 billion worth of debt at Christmas. That is according to statistics from money.co.uk, which have shown that 71 per cent of Brits intend to only use money they ha...

02/12/2009

PPI: Post Office launches 'People's Bank'

The Post Office is set to launch a new bank which could rival well-known high street names, under government plans unveiled today.Running from its network of local branches, it would offer a wide rang...

02/12/2009

Credit Card Charges: Government seizes bonus funds

The government is on a collision course with bankers after taking control of the Royal Bank of Scotland's bonus fund in advance of the end-of-year bonus season. Chancellor Alistair Darling has demand...

02/12/2009

Loan Insurance: Bankers push up house prices

The cost of properties in London is being pushed up by bankers on a property spending spree, new research has shown.Figures from estate agency Knight Frank show that house prices in the capital rose b...

30/11/2009

PPI: Critics round on RBS

Critics of the Royal Bank of Scotland (RBS) have signed a letter calling for action to rein in the bank, which is majority-owned by the government, the Guardian reports.The group are critical of the b...

30/11/2009

Lloyds bins bank claims

Lloyds Banking Group has asked courts to dismiss claims against it for bank refunds after this week's Supreme Court decision which upheld bank claims against consumers.The firm has contacted county co...

27/11/2009

Credit Card PPI: Anger over banks' secret billions

A senior parliamentarian has blasted the secrecy surrounding the loan of £61.6 to two major British retail banks.Chairman of the public accounts committee Edward Leigh has written to the chancell...

27/11/2009

PPI Charges: Bankers celebrate review let-off

Bankers have congratulated a government review into the way banks are run for refusing to introduce a requirement that the names of employees earning over £1 million are disclosed.The British Ban...

27/11/2009

Loan Protection: Banks to disclose earners over £1m

Banks will be forced to make public how many of their employees earn more than £1 million but will not be required to unveil the identities of the individuals in question, it was announced today....

26/11/2009

PPI Charges: Chancellor approved of secret loans to banks

Chancellor Alistair Darling has revealed that he agreed to huge Bank of England loans to two major banks being kept secret from the public.It only emerged this week that a year ago the Royal Bank of S...

26/11/2009

Loan Refunds: Bankers toast supreme court success

The Supreme Court's decision today (November 25th) to uphold the rights of banks against consumer claims of unfair bank charges has been applauded by bankers.The British Bankers' Association (BBA), re...

25/11/2009

Payment Protection Reclaim: Barclays welcomes court decision

Barclays has welcomed the Supreme Court ruling in favour of banks and against those claiming back what they believed to be unfair charges.A spokesperson for the bank said: "We welcome the Supreme...

25/11/2009

Bank refunds may still be possible despite ruling

Those who have made bank claims are still clinging on to hope despite today's judgment by the Supreme Court in favour of banks.Although the court said that bank reclaims on overdraft charges could not...

25/11/2009

Bank charges appeal rejected by Supreme Court

The Supreme Court has ruled in favour of banks over charges labelled as 'unfair'.In a statement, president of the court Lord Phillips said that charges for going into an overdraft were a price which c...

25/11/2009

Credit Card Reclaim: FSA fines Nomura for failings

The Financial Services Authority (FSA) has decided to fine Japanese bank Nomura for widespread failings and a lack of controls.It was found to have breached the regulator's guidelines on business cond...

24/11/2009

Loan Protection: Bankers 'returning to bad old ways'

A leading figure in the international economy has warned bankers in western countries that they risk a backlash from taxpayers after huge bailouts of the financial services sector.Speaking at the annu...

24/11/2009

Bank charges: Review likely to let off bankers on pay

A major review into the way banks are run led by Sir David Walker has been accused of dodging the issue of bankers' salaries and bonuses.It is thought that the review will not even make it necessary f...

24/11/2009

PPI claimant misses out despite back injury

A consumer who took out payment protection insurance (PPI) and then developed a back problem lost out because of complications with their PPI policy.The experiences the individual had when trying to c...

24/11/2009

FSA to make statement on PPI in New Year

The Financial Services Authority (FSA) is due to release a major policy statement in January following its consultation on payment protection insurance (PPI), ifaonline reports. In September, the FSA ...

24/11/2009

Bank Refunds: Top banker wants pay secrecy

A leading executive at the Royal Bank of Scotland has demanded that bankers' pay is kept secret, the London Evening Standard reports.Chris Kyle, global banking and markets chief financial officer at t...

23/11/2009

PPI claim body criticised

The government's body for dealing with complaints about bank charges, payment protection insurance (PPI) mis-selling and loan charges has been slammed for lacking the expertise to help consumers.A whi...

23/11/2009

Couple threatened with repossession despite PPI

A couple who thought their payment protection insurance (PPI) policy would protect them have ended up facing repossession, the Observer reports.Barry Goodison and Julie Moss took out a mortgage to buy...

23/11/2009

PPI claimants could benefit from Financial Services Bill

The government's new Financial Services Bill promises to deliver important reforms designed to benefit bank customers through more rights and improved information.Thanks to the bill, customers and PPI...

20/11/2009

PPI claim implications after Abbey abolishes fees?

Abbey has launched a new current account with no fees attached, which could appeal to individuals who have had to make a PPI claim.With more examples surfacing of customers being mistreated by banks, ...

20/11/2009

PPI Reclaim: Top banker slams bonus curbs

A leading banker has slammed the government's plans to stop bonuses which encourage risk in the financial services sector.Sir George Mathewson of Royal Bank of Scotland (RBS) criticised proposals for ...

19/11/2009

Bank Refunds: Bankers refuse to pay for financial education

Bankers have reacted angrily to a proposal announced in the Queen's speech for the financial services sector to fund education on managing money.The government wants to introduce a scheme helping cons...

19/11/2009

Bank Reclaim: Three quarters of savings accounts are diminishing

Only one quarter of savings accounts pay enough interest to cover the effect of inflation, new research by MoneySupermarket.com has found.This means that most savers' deposits are actually diminishing...

18/11/2009

Date set for unfair bank charges decision

A date has been announced when a legal judgment will be made on thousands of contested bank charges by Britain's highest judicial body.The Supreme Court, which sat for the first time last month, is se...

18/11/2009

Barclays 'made me spend thousands on useless PPI'

A 56-year old man was charged over £10,000 for payment protection insurance (PPI) that he could never be eligible to use, the Daily Mail reports.Roy Barker, who was diagnosed with cancer in 2004,...

18/11/2009

Loan Charges: Bank of England chief wants insurance against disaster

Banks should be made to fund an insurance scheme guarding the deposits of ordinary investors against external financial shocks, according to a leading figure at the Bank of England.Paul Tucker, deputy...

17/11/2009

Payment Protection: Banks increase price of PPI

Many people could see their insurance bills soar because of a 'recession crime wave', the Daily Telegraph reports.The price of insurance has increased across the board, including home and contents, ca...

17/11/2009

Bank Refunds: Top banker warns government on regulation

The boss of a major bank has called on the government not to introduce new regulation for the financial services sector, arguing that it could have an impact on the UK economy as a whole.Peter Sands, ...

17/11/2009

Loan Refunds: Lenders are treated like 'drug dealers'

The Financial Services Authority (FSA) has been accused of treating money lending companies as if they were "drug-dealers at the school gates".Council of Mortgage Lenders (CML) chairman Matt...

16/11/2009

Credit Card PPI: Claims against banks to become easier

The government is preparing legislation which would make it simpler to claim damages against banks and allow consumers to group together to take on financial institutions, Reuters reports today (Novem...

16/11/2009

PPI Charges: Banks withholding vital funds from businesses

Banks are being accused of failing to provide finance to British businesses which are in dire need of extra capital.A report released by the British Chambers of Commerce (BCC) today says that 33 per c...

16/11/2009

Bank Claim: Government set to curb banker bonuses

This week's Queen's Speech will outline new powers for the Financial Services Authority (FSA), enabling it to tear up bankers' contracts if they are receiving bonuses which encourage risky behaviour.M...

16/11/2009

Bank Charges: Charity calls for action on debt

Citizens Advice Scotland (CAS) is calling for politicians to do more for people struggling with debt in the country.Its call comes as the charity releases statistics profiling levels of debt in each S...

13/11/2009

PPI refunds cannot be based on 'half mis-sold' policies

People who feel they have been falsely sold payment protection insurance (PPI) may face difficulty getting a refund if the only half of a policy's premiums related to a mis-sold policy, according to r...

13/11/2009

FSA set to re-open thousands of PPI claims

Loan insurance firms want the Financial Services Authority (FSA) to drop PPI claims which the body has asked them to reopen, the Financial Times reports today (November 13th).The claims in question, w...

13/11/2009

Credit Card PPI: Families 'lack incentive' to save

Many families in Britain are simply not attracted to the idea of saving money, but more should be done to encourage putting cash aside, an analyst has said.David Kuo, director of financial website Mot...

12/11/2009

Loan Protection: Birmingham mortgage broker banned

Mohammed Hanif, a mortgage broker operating in Birmingham, has been banned from practicing by the Financial Services Authority (FSA).He was found to have obtained authorisation through false informati...

12/11/2009

PPI Claim: Economic recovery 'just beginning'

The UK economy has started emerging from recession but the journey back to prosperity will be a long one.That's according to governor of the Bank of England Mervyn King who made the comments yesterday...

12/11/2009

Credit Card Claim: Response to consumer credit report

Comparison site Confused.com has responded to a PricewaterhouseCoopers report on the availability of consumer credit.Earlier this week, the accountancy giant found that the number of bad debts has rea...

11/11/2009

PPI Reclaim: Debt charity calls for financial self-awareness

The Debt Advice Foundation has responded to a report by PricewaterhouseCoopers which suggests that on average British households will spend £5,000 paying off debts over the coming year.David Rodg...

11/11/2009

Bank Reclaim: Lloyds announce 5,000 job cuts

Lloyds Banking Group has announced that it is set to cut 5,000 jobs in the UK.Although some of the axed roles are of a temporary nature, 2,600 permanent posts are set to be lost and it is thought that...

11/11/2009

Credit card charges could be set to increase after Christmas

More than three in ten credit card users don't expect to pay their outstanding balance for six months after Christmas, new research by MoneySupermarket has found.Coupled with the expected rises in cre...

10/11/2009

PPI Charges: Barclays reports fall in profits

Banking giant Barclays has seen its profits slashed by almost a fifth for the first nine months of 2009.Its profits to September were £4.542 billion, down 19 per cent on last year after being hit...

10/11/2009

PPI Reclaim: FSA chief demands bank reform

Hector Sants, who heads up the Financial Services Authority (FSA), has blasted banks for their lack of responsibility and says his organisation will become more proactive in policing banks in the futu...

10/11/2009

PPI Refunds: Top saving tips given

Many people may now be looking at ways to give up credit cards and loans so as to avoid the likes of payment protection insurance. However, saving may be tougher than it seems. As such, Martin Bamford...

09/11/2009

PPI Charges: UK economy set to recover

The UK economy is on the road to recovery, an expert has claimed. Despite official figures showing that the UK failed to exit the recession, Hetal Mehta from the economic forecasters Ernst & Young...

09/11/2009

PPI claim: UK credit market likely to change

Credit lenders are reassessing their balance sheets as the current business model they are using is unsustainable. That is the finding of a new report, Precious Plastic, by PricewaterhouseCoopers. It ...

09/11/2009

Mandelson urges Europe to 'get real' on economy

Business secretary Peter Mandelson has suggested that the European Union needs to provide strong leadership to steer the continent back to economic growth. Commenting on economic policy, Lord Mandels...

06/11/2009

FSA sees increase in complaints

There has been an increase in the number of complaints sent to the Financial Services Authority (FSA). According to statistics, between January and the end of June this year, there has been a two per...

06/11/2009

RBS reports big losses

The Royal Bank of Scotland (RBS) has reported huge losses in its third quarterly report of 2009. In a statement, the bank admitted to making an operating loss of £1.52 billion. Stephen Hester, ...

06/11/2009

'Bad bank' customers will be prisoners, says expert

Existing Northern Rock customers will become financial prisoners when the bank is split up, it has been claimed. That is according to Labour MP Jim Cousins, who has suggested that as a result of the r...

05/11/2009

Expert discusses payment protection

An expert has given his opinion on the fine given to Swinton by the Financial Services Authority (FSA) for its mis-selling of payment protection insurance (PPI).Matt Morris, the senior policy adviser ...

05/11/2009

QE extension 'not a surprise'

The Bank of England's (BoE) decision to increase the level of quantitative easing (QE) in order to stimulate economic growth was not a surprise, one expert claims. Ted Scott, director of UK equity str...

05/11/2009

UBS hit with huge FSA fine

UBS AG has been fined £8 million by the Financial Services Authority (FSA). The fine is in relation to control failures that enabled four employees to carry out unauthorised transactions involvin...

05/11/2009

Confusing' bank charges on overdrafts costing consumers '£300 a year'

British consumers could be shelling out £300 a year in bank charges simply through choosing the wrong overdraft facility. That is according to new research, which found that 50 per cent of UK adu...

04/11/2009

RBS and Lloyds to sell off branches

The Royal Bank of Scotland (RBS) and Lloyds TSB are to sell off hundreds of high street branches as part of major changes in the British banking sector. Having been bailed out by the government, the b...

03/11/2009

Bank charges cause consumer backlash

Halifax is facing an exodus of unhappy customers following the announcement that it is to implement a flat rate fee on its overdraft facilities. As of December 6th, all accounts with established overd...

03/11/2009

Bank Claim: Lloyds axes more jobs

Lloyds Banking Group has announced that it is axing more than 500 posts at its Brighton customer service centre, which is due to close next year.While it has said it will redeploy 162 staff, 373 peopl...

12/01/2009