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Co-operative PPI bill up as bank makes another loss

Good news apparently! Co-operative Bank have released their half year figures which show a loss of over £75m. The much troubled bank have also added £39m to their compensation pot, of which £5m is to be added to the Co-operative PPI bill.

Moral banking ethics

It was certainly drummed into me for years growing up that the Co-operative Bank were different from the rest. Ethical investments and a high moral standing was apparently what the bank stood by. It appears now though that this ethos was nothing more than a clever bit of marketing.

Surely a bank with such strong pillars wouldn’t be seen ripping customers off by mis-selling products such as Payment Protection Insurance (PPI) and Packaged Bank Accounts?

Surely a bank with a culture of doing the right thing wouldn’t negatively impact it’s customers by breaching the Consumer Credit Act when selling mortgages?

Surely such a bank wouldn’t be found to be so incompetent to have a huge undiscovered financial black hole in it’s accounts to the tune of £1.5 BILLION?

How wrong we were. The illusion is shattered and we find ourselves with a bank that is just like the rest, driven by greed at the expense of it’s customers.

Scandals

I admit I was probably more disappointed that The Co-operative Bank was found to have been mis-selling PPI and Packaged Bank Accounts than I was of any other bank.

It came as no surprise at all that the likes of Lloyds, Halifax, RBS, Natwest, HSBC, Barclays, Bank of Scotland, MBNA and Santander had been cheating customers out of billions. These banks have been morally vacant for decades.

We’ve had a few new banks too that fell straight into the trap whilst claiming to provide ‘a new way of banking’. Banks such as Sainsbury’s, Tesco, Asda, First Direct.

They’ve all been caught with their hands in the till, so to speak.

Get your money back

With millions of people yet to stake their claim, to the BILLIONS of compensation set aside, there is still a long long way to go before the time of the great financial scandals is over.

Your Money Claim are financial claim experts.

Have you had a mortgage, loan, hire purchase agreement, credit card, store card or bank account? Whether they are still active, or whether they’ve been paid off or closed, it’s worth checking to see whether you’ve had PPI, or you’ve paid for a Packaged Bank Account.

Don’t worry if you don’t have the paperwork, or you’re not sure if you qualify for a PPI refund, or if you qualify for a Packaged Bank Account refund. Your Money Claim, with it’s No Win No Fee* service can carry out the necessary checks, and will work on your behalf every step of the way.

Your Money Claim is used to beating the banks, and there is nothing better than that telephone call to inform somebody that they are thousands, or even tens of thousands of pounds better off.

So why wait? Simply fill in the online form, drop us an email, give us a call, or use the live chat facility. Friendly, professional experts are on hand to answer your questions.

 

Co-operative PPI bill

Co-operative PPI bill

About the author

Daniel Lee

Company Director

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