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PPI Compensation Payments – Have you been underpaid?

How on earth are banks and lenders continuing to get away with cheating it’s customers time after time after time?

The biggest mis-selling scandal ever to hit the UK has seen yet another twist to the story, following an investigation by the BBC.

Investigation into banks compensation payouts

The BBC investigation has uncovered evidence that suggests the banks and lenders who ripped us off in the first instance by mis-selling PPI to MILLIONS of customers, has been short changing us all again when it comes to paying out fair levels of compensation.

The latest twist to a frankly disgusting episode in the history of the banking sector may come as a surprise to some, but to those who deal with banks and their tactics on a daily basis, it certainly comes as no surprise to us.

Poor regulation

I’ve spoken previously regarding the inadequate measures and fines handed out by the Financial Conduct Authority (FCA), and it appears this most recent behaviour by the banks would not have been uncovered had it not been for the BBC. It appears that the FCA are more than inadequate, they may be incompetent too.

It should go without saying that huge fines should be handed out for yet another example of cheating by the banks, but don’t hold your breath, it simply won’t happen.

In fact, the head of the FCA Martin Wheatley has gone so far as to suggest that instances such as this were likely to happen, given the number of complaints the banks are dealing with.

Well Mr Wheatley, YOU ARE WRONG. The banks have put themselves into this mess, and it’s time they put things right, no matter how much it costs and how long it takes. NO “issues”, as you like to put it, are acceptable.

Inadequate fines

As previously pointed out, with the frankly pitiful fines handed out to banks versus the gigantic profits on offer by scamming, cheating and frankly thieving from it’s customers, it is easy to see why the banks continue to choose to dance on the dark side.

Millions of cases to be re-opened

Following the BBC investigation which inevitably prompted the FCA to take a closer look at firms, as many as 2.5 MILLION complaints are due to be re-opened, which could lead to a further £1 BILLION in PPI compensation having to be paid out to customers who have been short-changed, or worse still had their complaint unfairly rejected.

With the PPI compensation bill currently standing at over £23 BILLION, I predicted long ago that the banks estimate of a final bill of £25 BILLION was reliant upon their continued tactics going unpunished and the near 7 MILLION who have yet to make a claim not coming forward.

Who can you trust with your claim?

Your Money Claim are industry experts in recovering compensation for mis-sold Payment Protection Insurance, and mis-sold Packaged Bank Accounts. Whether you know your accounts or not, Your Money Claim’s fast-track system can find your account details and check to see whether you’ve been sold PPI.

Your Money Claim will work on your behalf, fighting your corner at every step of the process.

With MILLIONS already recovered for it’s customers, Your Money Claim knows the banks tactics, and knows how to beat them.

Make sure your case receives the professional attention it needs. Start your claim today.

 

PPI Compensation

PPI Compensation

About the author

Daniel Lee

Company Director

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