Government urged to regulate PPI claim firms

The heads of Which? consumer group, British Bankers’ Association and MoneySavingExpert.com have written to the Secretary to State about claims management companies.

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PPI Summit held to improve claims process

A ‘PPI Summit’ is being held today with major banks, credit card providers, regulators and the Financial Ombudsman Service to persuade all parties to work together to improve the claims process.

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PPI causes financial services redress to more than double to £2bn

Over £2.25bn was paid out by financial services firms in redress during the second half of 2011, mainly due to payment protection insurance, according to the  Financial Services Authority.

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Financial Ombudsman Service confirms 2012/13 budget of £191m

The Financial Ombudsman Service has confirmed its budget for 2012/13 will be £191.1m.

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