PPI

Restricted network Personal Touch Financial Services has incurred an additional £154,000 in costs relating to claims brought against the firm in 2013, its accounts show.

Barclays said today its underlying profits for the first half of the year had fallen 7% after a drop in investment bank revenue, while it also reported another huge bill to compensate PPI customers.

Financial Services Compensation Scheme (FSCS) chief executive Mark Neale is "increasingly concerned" by the rising number of claims the service is receiving that are linked to advice to move pensions into risky assets held in self invested personal pensions...

A retired IFA currently battling an Ombudsman payment protection insurance claim dating from the 1980s says the lack of a complaints long-stop for advisers is "crazily unfair" and is pushing his MP to intervene.

Some leading banks may have underpaid compensation certain customers are due for mis-sold Payment Protection Insurance, the BBC has learned.

Phoenix Life attracted more than 400 complaints in the final six months of last year, according to latest data from the Financial Ombudsman Service (FOS).

Lloyds Banking Group says it is increasing its provision for the mis-selling of payment protection insurance (PPI) by another £1.8bn, bringing the total to nearly £10bn.

The Financial Services Compensation Scheme (FSCS) has started to process advice related claims regarding failed loan advice firm Welcome Financial Services Limited (WFSL).

PROTECTION WATCH

Lloyds Banking Group has made a further £750m provision for expected claims against its sales of payment protection insurance (PPI), taking its total commitment beyond £8bn.