Record amount of PPI claims made to the Ombudsman

Complaint formA massive 86% of all complaints made to the Financial Ombudsman Service (FOS), in the last six months, were regarding Payment Protection Insurance (PPI). Banks, as well as the Ombudsman service, have been handling complaints for PPI mis-selling for a number of years now, but despite this the number of complaints is still at a record high. The FOS handles cases where the complainant and the seller of the PPI product, cannot reach a satisfactory resolution to the case; over a quarter ...

Rogue claims management companies face crackdown

Rogue claims management companies face crackdownNew figures, from the Ministry of Justice, show that hundreds of rogue claims management companies were closed down, or warned about their practices, during 2012. The claims management industry has grown significantly over recent years; as have concerns about many of their practices, which often include unlawful and unsolicited use of text messages and emails to generate new enquiries. The industry is regulated by the Ministry of Justice, whose Claims Management Regulation Unit has shut down 209 firms between April and ...