By Danny Chapman
The Financial Services Authority is being urged by consumer groups to crackdown on the financial institutions responsible for misselling PPI according to the Daily Mail. Missold PPI is the current biggest problem for the FSA, who have held further consultations on the matters in hand. It is clear the banks are lobbying the FSA for concessions as they try to reduce their liability for missold PPI, with PPI claims being a growing area of disgruntled customers.
Missold PPI Claims are been challenged by the banks and other financial institutions as if they have done nothing wrong. The attitudes of the banking industry clearly have no floor. It appears as if the industry is taking full advantage of slack regulation to keep the gravey train rolling for the lucky few. The basis for this is that the banks spin the line of losing talented people if they do not pay big bonuses for the people who have delivered results to the tune of billions in the red.
PPI On the Rise?
Missold PPI and all PPI Claims are looking like they could cost the banking industry £4bn over the next 5 years. I am sure someone somewhere is being handed healthy bonuses for keeping this compensation as low as possible. Claims Companies such as i-Smart Consumer Services are looking to adjust this imbalance and to get this figure as high as possible by making people aware of this Missold PPI injustice.
PPI Claims will dominate the claims industry over the next 5 years, with many PPI Claims Companies trying to enter the fray. It has been an interesting few days for claims companies, with Cartel Client Review looking for new solicitors to process 70,000 claims that appear to be going nowhere, as the SRA have shut down CCLS, the Legal company associated with managing Cartel Client Reviews Claims. It looks as if this saga will have a few twists and turns over the coming weeks as the Ministry of Justice continue to investigate Cartel Client Review.
PPI and PPI Claims services can be accessed by visiting here and making a claim now. No upfront charges are made and we are handing 80,000 claims, the average claim is over £2000 and generally “Joe Public” will have 2 claims.
Visit www.ppi.co.uk for more information on how to claim, discover whether you are eligible to claim or start the process on line.