San Fransisco, CA -- (SBWIRE) -- 05/24/2012 -- It has been years since the financial crisis started, but banks are still in turmoil, and bank consumers now find themselves able to fight back against unfair practices. Financial regulations have gotten stricter, and regulatory organisations like the FSA are now paying much closer attention to banks to ensure that they act fairly.
Because of this increased scrutiny, the FSA filed a case against the banks in 2011 for mis-selling payment protection insurance (PPI). PPI was fraudulently included in the loan agreements of hundreds of thousands of borrowers, and now that the High Court has ruled in favour of the FSA, these borrowers are allowed to file claims in order to get their money back.
The latest news in the mis-sold PPI controversy is that banks have just set aside even more money in order to cover payouts to compensate PPI claims. Now that this news has broken, many UK borrowers are checking out the PPI Claims Company website in order to find more information about this issue. This website provides a full explanation of the PPI story and how borrowers can get back their hard-earned money.
‘In the last three weeks four of the UK’s biggest high street banks have topped up their PPI claims compensation pot by a whopping £990m, taking the total set a-side figure to over £7bn! The reason for the top is a higher than expected number of PPI claims in the first three months of 2012’, explains PPI Claims.
The website continues, ‘After the High Court case in April 2011 the original total refund bill was estimated to be around £4.3bn, however, one year on 58% of this has already been paid out and the banks are thinking nearer the £7bn mark. But it could be a whole lot more’.
The News section of the website provides even more breaking stories on mis-sold PPI and PPI claims, including general news about the financial sector as it relates to PPI claims. Under PPI Reclaim, visitors will find further information about this complex subject, including how they can file their PPI claims with the help of expert professionals. In the PPI Claims section, visitors can read the amazing story of one man who received a payout of almost £53,000 thanks to PPI Claims. Borrowers who are interested in filing a PPI claim will find a quick and easy online form that they can fill out in order to get free PPI claims advice.
About PPI Claims
PPI Claims is a financial claims management company that helps people recover their money from the banks. It is one of the longest-established companies in this sector and has a wealth of experience in claiming back PPI and unfair credit card charges for its customers.
For more information, please visit: http://www.ppiclaimsco.org/