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  • #1

    Insurance company CPP hit by record FSA fine

    Insurance company CPP hit by record FSA fine

    This is a duplicate of the Blog Entry made on 15th November 2012 13:27.

    Card protection company CPP faces a bill of £33.4m after being censured by the City watchdog for mis-selling insurance products. The bill includes a...

    Click to Read More...
    .I'm the allaboutFORUMS News Feed. That means I'm not real, I'm actually a program that's designed to post blog entries and tweet recent site news. Please don't try and message me, I can't respond! Thanks.
    Tags: 2012, banks, barclays, bbc, card, ccp, claims, claims firms, compensation, cpp, credit, credit card, creditors, customers, date, debt, ditch, fca, financial, financial services, fine, fined, firms, fraud, hsbc, insurance, management, mis-selling, nationwide, natwest, payments, payout, ppi, protection, redress, santander, scandal, scheme, selling, services, set aside, sky, suppliers, watchdog, yorkshire
  • #2
    Re: Insurance company CPP hit by record FSA fine

    can see this being the next payout scheme to many whom has been paying unexpectedly alongside the ppi
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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    • #3
      Re: Insurance company CPP hit by record FSA fine

      Banks face new £200m mis-selling scandal after CPP fine

      Banks are facing another mis-selling scandal that could cost the industry £200m in compensation payments.

      The UK’s high street banks are in talks with the Financial Services Authority after one of the industry’s main suppliers of credit card insurance was fined a record £10.5m and told to pay what could be £14.5m in redress to its customers. The compensation relates to 300,000 customers sold insurance by Credit Card Protection....Read more on AAD Blog Pages: Insurance company CPP hit by record FSA fine - allaboutFORUMS
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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      • #4
        Re: Insurance company CPP hit by record FSA fine

        Insurance company CPP hit by record FSA fine - allaboutFORUMS

        Previous aad:

        Credit Card Group CPP Seeks Last-Ditch Rescue - allaboutFORUMS
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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        • #5
          Re: Insurance company CPP hit by record FSA fine

          York-based card firm CPP to sell US arm for £26.1m

          A credit card insurer, fined £10.5m for mis-selling policies, has agreed to sell its US arm to help compensate customers and stave off creditors. CPP, based in York, has announced the proposed sale of its American business to AMT Warranty for £26.1m. The company said it had also agreed an extension to the date by which it must repay around £40m to lenders....Read more Here
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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          • #6
            Claims Firms Face Shut-Out From CPP Scandal

            The claims management firms which have made millions of pounds from payment protection insurance mis-selling face being shut out from a new redress scheme being set up for customers of CPP, the stricken credit card insurer.

            I have learnt that the Financial Conduct Authority (FCA), the new City watchdog, is trying to construct a compensation deal with the major high street banks that will stress the ability of affected consumers to obtain refunds directly.

            The attempt to devise a scheme that bypasses claims management companies (CMCs) follows intense criticism of their role in the PPI scandal.

            Millions of customers have been paid compensation by UK banks, which have been forced to set aside more than £12bn for one of the worst mis-selling scandals in the industry's history.

            Claims Firms Face Shut-Out From CPP Scandal

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            • #7
              Re: Claims Firms Face Shut-Out From CPP Scandal

              Originally posted by pompeyfaith View Post
              The claims management firms which have made millions of pounds from payment protection insurance mis-selling face being shut out from a new redress scheme being set up for customers of CPP, the stricken credit card insurer.
              Hi Pompey

              I've moved your post here, as there is already a Thread open on the News Media section

              thanks
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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              • #8
                Re: Insurance company CPP hit by record FSA fine

                CPP takeover talks with firm's founder terminated

                CPP Group founder Hamish Ogston has pulled out of takeover talks for the troubled credit card protection firm. CPP, fined £10.5m last year for mis-selling insurance products, also announced that Mr Ogston had resigned from the....Read from aad blog pages HERE
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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                • #9
                  Re: Insurance company CPP hit by record FSA fine

                  banks face £1billion bill for mis-selling credit card fraud insurance millions of customers will be paid compensation from a £1billion fund HSBC, Barclays, Santander, NatWest and Nationwide customers will be paid ......More at aad blog pages on CCP HERE
                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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                  • #10
                    Banks and card issuers face £1.3bn CPP compensation bill

                    Banks and card issuers face £1.3bn CPP compensation bill

                    Seven million people could be in line for hundreds of pounds in compensation for being mis-sold credit card and identity theft protection.


                    Read more------> http://www.bbc.co.uk/news/business-23791252
                    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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                    • #11
                      Re: Insurance company CPP hit by record FSA fine

                      CPP mis-selling: pay-outs to customers approved - Pay-outs to seven million people who were mis-sold insurance for their bank and credit cards can now go ahead, following a vote in London......Read more HERE at AAD Blog pages
                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                      • #12
                        Re: Insurance company CPP hit by record FSA fine

                        Originally posted by 5corpio View Post
                        CPP mis-selling: pay-outs to customers approved - Pay-outs to seven million people who were mis-sold insurance for their bank and credit cards can now go ahead, following a vote in London......Read more HERE at AAD Blog pages
                        The High Court has given its approval for seven million customers of mis-sold card and identity theft insurance to share in compensation worth £1.3billion.------------Read more HERE
                        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                        • #13
                          Re: Insurance company CPP hit by record FSA fine

                          UPDATE: CPP compensation reminder letters to be sent CLICK HERE ON AAD BLOG PAGES ALSO OLDER NEWS HERE
                          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                          • #14
                            Re: Insurance company CPP hit by record FSA fine

                            UPDATE:

                            Bank customers offered card insurance compensation - Read more here at aad blog pages

                            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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