Royal Bank of Scotland (RBS) on Wednesday lost an appeal over unfair commissions that were charged to customers who were sold payment protection insurance (PPI), potentially increasing lenders’ exposure to litigation over the long-running scandal. The United Kingdom’s Supreme Court …
Two major U.K. lenders warned that a last-minute rush by compensation-seeking customers will make the most expensive scandal in British banking even costlier. Royal Bank of Scotland Group Plc said Wednesday it plans to set aside as much as 900 …
Complaints about financial services firms rose by 13 percent in the second half of last year, driven by an increase in grievances about the mis-selling of payment protection insurance after an ad campaign featuring Arnold Schwarzenegger. Complaints to the Financial …
U.K. banks may face more claims for wrongly sold insurance as the country’s markets cop steps up an informational campaign featuring an animatronic head of Arnold Schwarzenegger. Misleading some customers in selling as many as 64 million payment protection insurance …
The animatronic head of actor and former California Governor Arnold Schwarzenegger mounted on tank tracks urges consumers to “make a decision,” in a campaign launched on Tuesday to raise awareness of Britain’s costliest consumer mis-selling scandal. The Financial Conduct Authority …
Lloyds Banking Group Plc will probably take a further £1 billion ($1.6 billion) charge for wrongly sold loan insurance in the year’s second half, undermining efforts to clean up the bank as the government prepares to sell shares to individuals. …
Barclays set aside another £1 billion ($1.58 billion) to compensate customers for mis-selling products, dropping another British banking bombshell as the industry struggles with the scale of redress for past misdemeanors. UK banks are embroiled in two separate mis-selling scandals, …
