Barclays PPI charge up £1.45bn
Shares in Barclays were temporarily suspended this morning following a sudden rush of share sales.
This followed their latest set of figures announced to the city, which showed a plunge in profits and yet more bad news regarding PPI.
An additional £1.45bn was added to the Barclays PPI charge, taking their total to £7.5bn.
Latest sector figures
Despite most UK banks professing that the end is nigh for the PPI scandal we continue to see quarterly additions to the ever expanding PPI fund, which now stands at £36.65bn when taking into account smaller lenders as well as the so called big four.
Barclays have joined RBS/Natwest, Santander and the Lloyds Banking Group in announcing additional PPI compensation provisions in 2016, with £5.1bn added year to date.
With HSBC yet to announce their latest results it is looking increasingly likely that 2016 will see the total bill pass the £40bn mark.
Deadlines and new hope
Had the banking industry had a tough regulator it is likely the whole PPI scandal would never have occurred.
That weak regulation continues with the Financial Conduct Authority likely to bow to demands to introduce a potentially illegal deadline for PPI claims, likely to be set sometime in 2018.
Whilst that unwanted ruling may be challenged there is some good news for customers who have had their claims rejected by lenders.
A Supreme Court ruling has offered some hope and Your Money Claim are already administering successful claims, using arguments from the court case, for customers who have previously had their claims rejected.
Have you had PPI?
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Making a PPI Claim
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.