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FSA whitewash PPI report

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  • FSA whitewash PPI report

    Other info of PPI from the FSA Details Here

    Wed 26 Sept. FSA PPI Ivestigation

    The Fundamentaly Supine Authority are due to announce the conclusions
    to their investigation into Payment Protection Insurance.

    The PPI market is huge and so are the figures. It is estimated that there are 20 million current policies in the UK, although it is widely believed that
    figure for those policy holders who realise they have one is significantly
    less.

    The profit margins for the PPI industry are eye-wartering. From the income
    received from PPI the payout for claims is just 20 percent compared to
    motor insurance of 80 percent. Only 1 in 5 PPI claims are paid.

    The FSA has conducted it's investigation into PPI with it's customary break-neck speed and has taken a mere two and a half years to conclude.



    (from EXC)
    Last edited by Paradox; 25th September 2007, 07:59:AM. Reason: Fixed Link
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

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  • #2
    FSA whitewash PPI report

    After a two and a half year investigation into Payment Protection Insurance which, after overdraft charges, must rank as the financial
    industry's scam of the decade the FSA has found major failings but
    has not issued a penny in fines.

    FSA publishes latest findings on PPI

    Comment


    • #3
      Re: FSA whitewash PPI report

      I am about to take on LTSB for a mis sold PPI, in your opinion is it still worth taking on?

      Comment


      • #4
        Re: FSA whitewash PPI report

        if it was miss sold, then yeah. Got my court date for ours. all bundles in and ready for the tussel.

        Comment


        • #5
          Re: FSA report into PPI due out tmw (Weds)

          should add a bit of weight to any miss-sold PPI claims.

          Comment


          • #6
            Re: FSA whitewash PPI report

            PPI's are the biggest rip off going.
            As I see it and have suffered because of it the banks sell these so called payment protection plans and try never to pay on them. I had to have one many years ago. I became very poorly and spent some months in hospital, this was followed by about a year in bed at home. Because I was the main earner in the household and unable to work and my wife was left looking after me and three kids under the age of four, the bills were hard to meet. The Halifax still wanted their mortgage payments and when these could not be met, we were threatened with eviction. Luckily we managed to find a buyer for the house but ended up in rented accomodation for eight years. I doubt if I could get anything back at anytime but I will always harbour a hatred for the Halifax.
            Borrow money from a pessimist -- they don't expect it back.

            Comment


            • #7
              Re: FSA whitewash PPI report

              In addition, the following action has already been taken as a result of the FSA visits:
              • Eleven firms have stopped selling PPI either permanently or temporarily until such time as they get their sales processes in order and/or retrain staff;
              • Three firms have canceled their FSA authorisation to sell PPI; and
              • Four large firms are reviewing past PPI sales to ensure they were appropriate.
              They must of found dodgy sales to get this actioned, so why no fines.. it reads companies have been warned

              It also reads the FSA are increasing their fines, well thats really going to scare them isn't it.

              Like a rubber knife on a slab of hard butter.

              They are all in bed together , and they are showing it to the public more and more each day..can't wait for the fall out of it all.

              AND.. do we get to know who the companies are to gain further evidence to support personal claims in court of miss selling?

              Comment

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