Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Banks gave in to PPI mis-selling due to their unpopularity, says Dunstone

Financial institutions gave in to the payment protection insurance (PPI) mis-selling because they were not popular enough to be able to fight billions of pounds worth of compensation claims, according to Sir Charles Dunstone, co-founder of the Carphone Warehouse.

The former HBOS retail risk committee member said that the numbers seem "completely mad" and that he does not believe policies were mis-sold in the way the Financial Services Authority claims.

"It seems to me that the banks have just surrendered. That they are so unpopular that they should pay the money," he said.

Britain's banking industry gave up on its appeal against the High Court ruling last May, which precipitated the waves of claims that have cost the sector more than £11 billion.

Lloyds Banking Group, which took over HBOS, was hit worst by the PPI mis-selling claims, with the firm putting aside £5.3 billion for compensation, much of which could be attributed to HBOS.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801491070-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide