PPI News - October 2012
PPI Claims Hit By Staff Turnover
22 October 2012
The payment protection scandal has been further complicated by high staff turnover of the employees processing claims on behalf of the banks and main lenders.
The banks have outsourced the processing of compensation claims to external organisations. These companies, however, are struggling to hold on to staff, who have been effected by a number of factors including heavy workload.
Read more at FT.com:
Central Bank Names Six Banks Which Missold PPI to Ineligible Customers
08 October 2012
The Central Bank of Ireland has named six banks which sold PPI to ineligible customers.
The banks named include: Bank of Ireland, Allied Irish Banks, EBS, Permanent TSB, Ulster Bank and GE Money. They have all been ordered to open independent reviews of PPI sales to establish the extent of the problem – and to compensate customers who were missold the policy.