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Co-operative PPI Claims – A short history
For almost two decades, banks in the UK were mis-selling Payment Protection Insurance, often referred to as PPI.
This was a simple case of banks putting their own greed for making profits over providing an honest business service.
There are many examples where the banks were selling PPI to customers whom they knew would be ineligible to make a claim should the need arise.
The Co-operative Bank is just one of many banks who have been found guilty of this malpractice. If you have received financial assistance from the Cooperative bank over the last 20 years, you need to read this article!
Co-operative Bank – lacking the morals they claim
The Co-operative Bank is a commercial and retail bank head-quartered in Manchester, UK.
There is a huge slice of irony in the fact that the Co-operative Bank, which prides and markets itself as an ethical bank, should involve itself in the mis-selling of PPI.
According to the Co-operative Bank’s 2013 Annual Report, the majority of the bank’s revenue is generated through interest charges on loans. Given the bank’s reliance on loans for income, the potential damage to the failing bank is also huge.
Co-operative Bank – fines on top of compensation
The practice of mis-selling PPI by the Co-operative Bank has been an expensive mistake for the bank.
As reported by the BBC in April 2014, the Co-operative Bank have set aside £103 million to compensate customers who were mis-sold PPI.
If things weren’t bad enough, the Co-operative Bank has also failed to treat customers who are claiming for PPI compensation fairly, resulting in a fine of £113,300 being handed to them by their regular, the Financial Conduct Authority.
For this reason, our advice is that you should not be deterred from pursuing a claim from your bank if they reject your initial claim. The banks will not make getting compensation easy for customers, luckily, we do!
Make your claim
Do you think you may have been mis-sold PPI by the Co-operative Bank? With us, it is quick and easy to make a Co-operative PPI claim.
Our fast track system allows us to gather all the information relating to your accounts and determine whether or not you may qualify for a Co-operative PPI claim.
You do not need to provide any paperwork in order to make a PPI claim – we make it easy for you!
So begin your Co-operative PPI claim today by completing our easy online claim form or downloading a pack. Our expert advisers can be contacted by phone, email or our live chat to answer any queries you may have.
Co-operative PPI claim
