Welcome to our news page, where you can find out all the latest updates from Key Financial Claims.
Barclays denies misleading shareholders over £3bn investment linked to Sheikh Mansour
Barclays increases PPI and swaps mis-selling provisions - the bank said total provisions for the scandal involving interest rate swaps were now £850m, and £2.6bn for the PPI schemes.
PPI Claims are in the news again today, with major banks, credit card providers, regulators, FSA and the Financial Ombudsman Service holding a summit to discuss ways to help people get back PPI refunds owed and improve the PPI claims process. How strange that not one Claims Management Company has been invited to attend this summit.
Keep an eye out for Key Financial Claim’s very first television ad as it hits the screens of the UK this week.
The ad is part of a complete campaign by the company, taking in prime television slots, radio ads and countrywide colour press.
It has come to our attention that, unfortunately, some people are receiving calls from 0203 & 0208 numbers fraudulently claiming to be from Key Financial Claims Ltd. They are being informed that they are entitled to compensation having been miss-sold Payment Protection Insurance (PPI).
The bogus callers are then requesting an upfront fee for administration costs and advising that when this has been paid a representative will call round to deliver a cheque for the repayment / compensation. The administration costs are generally requested to be paid via ukash vouchers, Western Union transfers or PayPal cash transfers.
As mentioned in my update on 9 May, it was a great day for consumers when the BBA decided not to appeal the High Court decision endorsing the approach taken by the Ombudsman and the FSA to PPI claims.
Since the ruling we have seen offers for clients increase from 50 to as many as 900 daily while lenders work through the backlog of complaints built up during the Judicial Review. Under FSA rules all complaints submitted prior to the High Court decision must be dealt with by 31 August and we are geared up to deal with the ever increasing flood of offers expected during the coming weeks!
You may be aware of the recent tsunami of criticism in the national press aimed at claims handlers. Criticism such as companies like ours are just taking money out of people’s pockets for work they can do for themselves and that we have been in hibernation since the start of the Judicial Review in October.
How unfair and undeserved!
The BBA has announced it does not plan to appeal the recent high court judgement, paving the way for consumers to claim back their mis-sold PPI. This is great news for consumers and I am glad common sense has finally prevailed.
If you think you have been mis-sold PPI then contact Key Financial Claims on 0161 447 8871 or complete a claim pack on this website.
Lloyds Banking Group have already announced they will not appeal the decision and have set aside £3.2bn to cover the cost of compensating their clients. I have also heard from my contacts that some other Banks are contemplating following Lloyds by deciding not to participate in an appeal. This is great news for consumers.
If the amount Lloyds has put aside to compensate clients is scaled up for all the lenders, it appears consumers may have been miss sold PPI to the tune of £8bn plus. No one knows for sure how much compensation the lenders will have to pay - this depends on how many people come forward with a valid complaint of miss selling but clearly there is scope for many consumers to receive refunds.
In April 2011 the UK’s banks lost an attempt to thwart new regulations on how they should sell payment protection insurance (PPI). I was actually there when Judgement was handed down by the High Court in London and 20 April 2011 following the legal challenge (“judicial review”) brought by the British Bankers Associate (BBA) on behalf of a number of high street banks against the Financial Ombudsman Service and the FSE on the approach to handling PPI complaints. The judgement endorsed the approach taken by the ombudsman and the FSA.
Staff at Key Financial Claims have helped raise £1250,00 to help the Key 103 Cash for Kids Charity.
Key Financial Claims are delighted to announce the launch of their brand new website. The new site, which goes live today, is packed full of great features that will help customers claim back £1000s on their mis-sold PPIs.
Key Financial Claims Ltd, Registered in England & Wales (07022415), Imperial House, Hornby Street, Bury, BL9 5BN
Key Financial Claims is regulated by the Ministry of Justice in respect of Regulated Claims management activities (CRM22105) its registration is recorded on the website www.claimsregulation.gov.uk.