PPI

The Financial Ombudsman Service has moved to tackle the huge delays for consumers who reclaim mis-sold payment protection insurance (PPI) caused by the flood of cases it has to deal with.

A father from Essex has received over £82,000 for mis-sold payment protection insurance (PPI), the largest debt cover payout ever reported to us.

Lenders have been told to ensure their letters offering payment protection insurance (PPI) compensation are clear, to prevent providers misleading victims.

Banks and financial firms are wrongly rejecting payment protection insurance (PPI) complaints, despite them putting billions of pounds aside aside to pay consumers.

Compensation paid to victims of payment protection insurance mis-selling hit at least £1.9 billion in 2011, new figures show.

Citizens Advice has received a cash boost after a claims handling company which cold-called households under the name "Money Claiming Experts" agreed to pay damages following a High Court ruling that it infringed the MoneySavingExpert.com trade mark.

The new system of financial regulation must help consumers by promoting competition and better communication so it does not repeat the "shortcomings" of the Financial Services Authority (FSA), a committee of MPs said today.

A record number of disputes regarding the mis-selling of payment protection insurance (PPI) will need to be resolved over the next year, as banks and insurers have subjected customers to "delays and inconvenience", a finance watchdog warned today.

Redress paid to victims of payment protection insurance mis-selling has hit £1 billion in 2011, new figures show.