Payment Protection Insurance

U.K. FSA Fines Banks For Slow Response To Payment Protection Insurance Customer Complaints

On February 19, the U.K.’s Financial Services Authority announced a fine against three related banks for failing to promptly redress customers lodging complaints about the banks’ payment protection insurance (PPI) product. ...more

FSA Fines Lloyds Banking Group for Delayed PPI Payments

On February 19, the FSA published a final notice announcing that it had fined Lloyds Banking Group (LBG) a total of £4,315,000 for failing to make payment protection insurance (PPI) redress payments promptly. Between May 2011...more

Joint Finalized Guidance from the FSA and OFT on Payment Protection Products

On January 24, the FSA and the Office of Fair Trading (the OFT) published their joint finalized guidance on payment protection products....more