More mis-selling trouble for Lloyds?

More mis-selling trouble for Lloyds?

Lloyds Bank is writing to more than 7,000 customers who were mis-sold ‘low risk’ investment products which turned out to be high risk. Times banking editor Katherine Griffiths says the bank may have to pay out £80 million in compensation over the sale of the products according to estimates from the bank’s own union, LTU.

Record high for pension scams

Record high for pension scams

Recorded losses for pension scams climbed to a record high of more than £8 million in March. City of London police said losses had rocketed up from £779,000 reported by 12 individuals in February to an amazing £8.6 million reported by 24 victims in March.

Pensions Regulator warns of ‘unacceptable risk’

Pensions Regulator warns of ‘unacceptable risk’

The Pensions Regulator (TPR) has issued a strong warning of ‘an unacceptable risk to consumer protection’ of new ‘micro’ pension schemes. The regulator has made tackling the ‘sub-scale’ schemes a top priority in its three year corporate plan.

Car finance – the next PPI?

Car finance - the next PPI?

Could personal contract plans for car finance soon become the new PPI? The UK’s financial watchdog is sufficiently concerned about the way the finance is being sold that they have launched a special investigation.

Pensioner mortgage debt to hit £40 billion

Pensioner mortgage debt to hit £40 billion

A new report has warned that UK pensioner mortgage debt will hit £40 billion by 2030 – double what it is now. The study says soaring house prices, slow wage growth and crippling student loans will combine to force many people to borrow into retirement.