PPI

Lloyds Banking Group has been accused of wrongly rejecting swathes of payment protection insurance mis-selling claims.

A huge £602.2 million was paid out to victims of payment protection insurance (PPI) mis-selling in August, according to latest industry figures.

The bill for mis-sold payment protection insurance (PPI) at Barclays soared to £2 billion today as claims against the banking giant continue to pile up.

Consumers have been told the new financial regulator will work faster than its predecessor to stop mis-selling and protect customers.

Barclays is to abolish sales incentives for frontline branch and telephone staff, which it hopes will help prevent mis-selling.

Complaints to financial firms rose by 59% in the first half of this year, driven by a spike in the number of payment protection insurance (PPI) complaints , new data from the Financial Services Authority (FSA) reveals today.

Every household is being ripped off to the tune of £430 a year by banks, insurance and other financial service companies, according to a report.

A whopping £512 million was paid out to victims of payment protection insurance (PPI) mis-selling in July, the latest figures from the Financial Services Authority (FSA) reveal.

Lloyds TSB and MBNA are the worst of the major banks for wrongly dismissing complaints, new data published by the Financial Ombudsman Service reveals today.

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