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Payment Protection Insurance News

Unless you are prepared for the worst, it wouldn't be a good idea to read the payment protection insurance news. It has been the subject of much controversy over the past few years but as time goes on and more becomes known about the extent to which this scandal has infiltrated the lending industry it is becoming clear that there are more cases of mis sold PPI than was earlier estimated. In fact, the payment protection insurance news is getting better for consumers but the lending industry is hard hit. This could trickle down to consumers in future interest rates or the unavailability of funds for future loans, but at the moment the news is good because more and more PPI refunds are being given.

UK Banks Recording Record Losses

In the payment protection insurance news that is circulating around the web as well as on television and in print, UK banks are reporting record losses. Although it isn't exactly clear what the ultimate cause of those losses is, it was certainly amplified by all the payment protection refunds they have had to pay. Since the British Banking Association lost the High Court review of the new FSA PPI guidelines; however, many banks have announced allocation of funds to deal with the issue. This is seemingly good news for consumers.

Where to Find the Latest Payment Protection Insurance News

Reading the newspapers and the tabloids hint at what is happening in the lending industry but for the most up-to-date news most people subscribe to RSS feeds or check a PPI claims company website daily. You might think that only those in the claims or lending industries would be interested in this but consumers like you and I who have been impacted by the PPI scandal need to stay informed as well - any PPI refund could be effected.

Payment Protection Insurance News Promotes Public Awareness

Staying informed by keeping up with the latest payment protection insurance news also helps to promote and awareness of just how far reaching the PPI scandel really is. Whilst we may be aware of having been mis sold this cover on one or two of our loans, it could be that a loan taken out within the past ten years that is already paid in full also had PPI cover mis sold. The key is in keeping up with what constitutes PPI being mis sold and what does not. Only mis sold PPI is eligible for a refund which is why staying well informed is so very important.

You may not even be aware of the fact that you have a refund coming but reading (or hearing!) something in the news could remind you of a loan you had forgotten about. Don't let even the smallest loans go unchecked as they could also be due a PPI refund.


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