THE two-year countdown for claiming compensation for being mis-sold payment protection insurance started on Tuesday 29th August 2017 and the Financial Conduct Authority (FCA) has unveiled a new advertising campaign to make sure people file their claims before the deadline. Read more…
FCA delays it’s decision on PPI deadline pending further consultation on widening the scope to incorporate profit share (Plevin) and fee cap. Fee cap CMR update statement
The FCA decision on the whether PPI deadline will be imposed is expected to be announced.
Banks commence talks with the FCA to negotiate a deadline for PPI claims to bring what has become known as the biggest mis-selling financial scandal to an end.
The Lloyds Banking Group is fined £4.3m for delays in compensation payments to up to 140,000 customers who were mis-sold payment protection insurance.
According to the Financial Ombudsman Service PPI becomes the one of most complained about financial product in banking history. Source
British Bankers’ Association decides not to appeal against High Court ruling.
Lloyds Banking Group withdraws from legal challenge, saying it wants to “draw a line” under the affair.