MPPI

Barclays Bank has overtaken Lloyd's TSB as the source of the most payment protection insurance (PPI) complaints, according to figures from the Financial Ombudsman Service (FOS).

PPI complaints have doubled in the first half of this year with up to 1,500 new cases each day, according to latest Financial Ombudsman Service complaints statistics.

LifeSearch has highlighted the need to seek independent protection advice in a BBC Radio Scotland debate.

The June FSA figures for PPI complaints show a drop for the first time this year.

A decision by HSBC to set aside a further £340m to fund payment protection insurance (PPI) compensation claims has taken the amount banks have now earmarked for PPI mis-selling redress to almost £10bn, a report says.

The Financial Ombudsman Service (FOS) has reported a more "entrenched" attitude by both consumers and businesses across the board in health insurance complaints.

The renting rise will fit "quite nicely" with the emergence of market-newby short-term income protection, Defaqto has said.

The payment protection insurance (PPI) mis-selling scandal has cost financial services £1.375bn so far this year, according to FSA payout figures.

At a summit, a group has called for industry-wide standardization of the PPI claims process to fight "unscrupulous claims management firms," and simultaneously took a side swipe at government inaction.

Legal & General has replaced its mortgage payment protection (MPPI) product with a short-term income protection (IP) offering called Lifestyle Cover.