FOS blames banks for rise of PPI claims management firms

Chief financial ombudsman says banks not investigating PPI claims properly played into hands of claims management firmsThe failure of banks to properly investigate mis-selling claims around payment protection insurance (PPI) led directly to the rise of the claims management industry, the Financial Ombudsman Service has told MPs.In an appearance before the Treasury Select Committee, chief […]
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MPs urge banks to allow basic account customers to use rival ATMs

Treasury committee criticises Lloyds TSB and RBS for failing to improve financial inclusion by limiting access to machinesMPs have urged RBS and Lloyds TSB to allow customers with basic bank accounts to use their cards in rivals’ cash machines, saying that limiting withdrawals could lead to a decrease in the number of free ATMs.In a […]
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