Precision ClaimsSpecialist Claims Blog
Huge losses=Big bonuses at RBS
After taking nearly a £1billion hit for mis-sold payment protection insurance (PPI) which saw its losses increase to almost £2billion, the Royal Bank of Scotland still plans to pay out over £750million in staff bonuses. This figure includes nearly £400million for investment bankers who are...
Don't Go it Alone with a PPI Complaint
As we've discussed before, there has recently been a big increase in the number of people making PPI complaints to banks and insurers. However, it has also been revealed that the number of complaints being dealt with by the Financial Ombudsman Service (FOS) - the independent body that helps...
Banks payout but will want it back
It's estimated that the cost of compensating individuals who were mis-sold payment protection insurance could be twice as much as originally estimated by the FSA. They had said it could result in a compensation figure of around £4.5bn, but considering the fact that just 5 banks have already set...
Payback Time for banks
RBS has announced it has set aside an extra £850 million for PPI cases. Since the British Bankers Association's decision to drop its judicial review into complaint measures the Royal Bank of Scotland has done what Lloyds and Barclays Bank have done and have allocated funds in order to compensate...
FSA v BANKS
At the judicial review launched by the British Banking Association (BBA) a high court judge was told that new regulations to control the selling of PPI would cost the industry 4.5 billion pounds. New regulations set out by the Financial Services Authority (FSA) and the Financial Ombudsman...
