Banks

The City watchdog has announced a crackdown on inducements to bank staff that encourage mis-selling.

Ulster Bank has revealed compensation measures for its customers hit by this summer's month-long computer meltdown, which was one of the worst banking service calamities in memory.

Santander has seen a big improvement in customer satisfaction but that hasn't stopped it maintaining the unwanted ignominy of being the worst of the major banks for customer service, in a poll of MoneySavingExpert.com users.

Banks, building societies and credit card providers are making it easier to reclaim payment protection insurance (PPI), following a campaign by MoneySavingExpert.com and consumer group Which?. However, there is still more work to do.

HSBC has taken a further £341.6 million hit to cover mis-sold payment protection insurance (PPI), it has been announced today.

Half of complaints made about mis-sold PPI by claims management companies (CMCs) between April and June were on behalf of customers who never had the product in the first place, according to Lloyds Banking Group.

Four of Britain's top five banks are reportedly set to take another £1 billion hit for mis-selling payment protection insurance – bringing the industry total to nearly £8 billion.

A record £730.5 million was paid out to victims of payment protection insurance (PPI) mis-selling by lenders in May, the Financial Services Authority (FSA) announced today.

Lloyds Banking Group is to sell 632 branches to the Co-operative Group in a deal worth up to £750 million.