The latest updates on the PPI scandal, and the fallout from the Judicial Review, will appear on this page. If you wish to know anymore information then do not hesitate to contact us - our advisors are on hand to point you in the right direction and to start your claim.
Royal Bank of Scotland (RBS) are now the latest bank to confirm their PPI compensation losses, stating that they expect to pay out £850m to its customers who were mis-sold the policy over the last decade.
The banks have decided against contesting the charges put against them with regards to the mis-selling of PPI, paving the way for thousands upon thousands of customers to reclaim the money which is rightfully theirs. Today the FSA made the following statement:
"The Financial Services Authority (FSA) welcomes the decision by the British Bankers' Association (BBA) and Nemo Personal Finance (Nemo) to accept the High Court's dismissal of their legal challenge to the FSA's payment protection insurance (PPI) measures.”
Banks are now obliged to continue handling any complaints regarding PPI and pay compensation to customers where appropriate. This marks the end of the poor manner in which PPI claims have been handled in recent years and the way in which customers have been treated in this time – more than 1.5m complaints have been registered since the FSA became PPI regulators in 2005.
You may have seen that the various media outlets have encouraged you to contact your bank directly and take on the claim yourself – however we strongly advise that you contact Falcon & Pointer first to gain first-hand advice and to give yourself a strong chance of reclaiming everything you are owed. Banks could sometimes offer a compensation package valued at an amount which is much lower than that of which you could truly reclaim. The banks have deceived you once; don’t let them do it again!
Contact Falcon & Pointer today to speak to our friendly advisors and start your claim now