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CT Capital hit with regulator fine for PPI failings
Jun06

CT Capital hit with regulator fine for PPI failings

UK regulator Financial Conduct Authority (FCA) has fined CT Capital Ltd (CT Capital) GBP 2,360,900 for serious failings in its historic Payment Protection Insurance (PPI) complaint handling processes. PPI is an ongoing issue in Britain because of alleged fraud perpetrated on citizens and residents by banks and other financial institutions. FCA said that between May 2011 and November 2013, during which time it handled 6,669 PPI...

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FCA and PPI: Is enough being done to make amends?
Jan30

FCA and PPI: Is enough being done to make amends?

The Financial Conduct Authority in the UK says it will gather evidence on how the PPI complaints process is working. The FCA decision has significant implications for all bank customers who were talked into entering payment protection schemes, including numerous former business professionals, students and other individuals and families from the Middle East and North Africa region (part of The Middle East in Europe readership), many of...

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UK banks, card companies to open  2.5 million PPI misselling cases
Aug29

UK banks, card companies to open 2.5 million PPI misselling cases

British banks and card companies are to reopen 2.5 million PPI misselling complaints following many customers’ rejection of compensation and claims of underpayment. The BBC estimated in August a total of GBP 16 billion was paid out in PPI compensation. But UK regulator Financial Conduct Authority (FCA) said that firms would look again at cases in 2012 and 2013 where claimants could have been treated unfairly. In June 2014 the...

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