PPI Return Goldsmith Williams

The increasing backlog of PPI claims is leading to a two year wait for the Financial Ombudsman Service (FOS) to reach a verdict for victims of the controversial financial product.

Adviser Alliance’s Founder insists Independent Financial Advisors (IFA) remain too focused on investment and pension strategies and are subsequently neglecting to adequately protect their clients which led to the PPI claims fiasco.

The Financial Services Authority (FSA) has revealed that PPI claims have risen to 10,000 complaints a day as victims of mis-sold policies scramble to claim their entitlements before the outcome of the judicial review.

Some banks are persisting in their efforts to freeze the handling of PPI claims disputes through their lack of cooperation with the Financial Ombudsman Service (FOS) despite the High Court being close to reaching a decision on the judicial review.

Some protection cover sellers have reported a rise in enquiries regarding payment protection insurance (PPI) and expect the previously shunned financial products will become popular again.

The “lifeboat” scheme intended to protect customers when firms go bust has resulted in some of the worst afflicted receiving less PPI claims compensation

The Financial Services Authority has released PPI claims data that show more complaints were raised against Barclays than any other bank.

The Financial Services Authority (FSA) has approved an additional £25m levy to boost the funds available to the Financial Ombudsman Service (FOS) to help them deal with an expected surge in PPI claims.

Complaints made against personal investment firms have increased dramatically over the past year as a result of the continuing rise in PPI claims. Claim back your entitlement today!

The Competition Commission has published a new list of requirements regarding the sale of payment protection insurance policies to prevent the future mis-selling of such financial products and a repetition of the PPI claims scandal.