Well who'd of thought it......more scandal surrounding
the banks. And to save you guessing all day on what the subject is this time,
I'll save you......it's PPI again.
I think we all sick of the phone calls, adverts, etc. in
fact the whole subject to be fair. But this compensation beast looks like it's
set to roll on and on.
It's a little bizarre this one as the banks have been oh
so willing to award compensation for the mis-sold PPI but appears that their
calculations have not included all of the recompense due. Yes premiums have
been refunded and interest awarded in line with regulator guidance, additional
changes and fees have been 'forgotten'. Forgotten to the tune of around £1
billion.
That's quite a memory slip.
However, the biggest loser in all of this is our economy.
As long as banks have liabilities that need cash, they will be reluctant to
lend to the business community at attractive rates and this will stop the
Private Sector growing and creating jobs.
What a mess......and all so avoidable
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