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Yet more banking scandals

...on serious topics that don't fit anywhere else at present.
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Graham R
Posts: 15030
Joined: April 6th, 2011, 10:33 pm

Re: Yet more banking scandals

#41 Post by Graham R » February 11th, 2014, 11:50 pm

Latest post of the previous page:

Dave B wrote:
Graham R wrote:I see that Barclay's profits are down but bonus payments are up.
One commentator said there was more in their bonus pot than they will be giving their shareholders in dividends.

Haven't seen their justifications yet (OK, haven't looked for them either!)

Barclay's justification is that they have to pay competitive salaries or they would lose their best people.
However as profits are down their best people seem not to be doing their best.
So perhaps it's time for a change of personnel.
Relish the privilege of existence

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Alan H
Posts: 24067
Joined: July 3rd, 2007, 10:26 pm

Re: Yet more banking scandals

#42 Post by Alan H » February 12th, 2014, 8:46 am

+1
Alan Henness

There are three fundamental questions for anyone advocating Brexit:

1. What, precisely, are the significant and tangible benefits of leaving the EU?
2. What damage to the UK and its citizens is an acceptable price to pay for those benefits?
3. Which ruling of the ECJ is most persuasive of the need to leave its jurisdiction?

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Alan H
Posts: 24067
Joined: July 3rd, 2007, 10:26 pm

Re: Yet more banking scandals

#43 Post by Alan H » February 13th, 2014, 6:33 pm

The banks and insurance companies always kowtow to the regulator, don't they?

Banks Abort PPI Deadline Talks After FCA Snub
Alan Henness

There are three fundamental questions for anyone advocating Brexit:

1. What, precisely, are the significant and tangible benefits of leaving the EU?
2. What damage to the UK and its citizens is an acceptable price to pay for those benefits?
3. Which ruling of the ECJ is most persuasive of the need to leave its jurisdiction?

Nick
Posts: 11027
Joined: July 4th, 2007, 10:10 am

Re: Yet more banking scandals

#44 Post by Nick » February 14th, 2014, 5:04 pm

Alan H wrote:The banks and insurance companies always kowtow to the regulator, don't they?

Banks Abort PPI Deadline Talks After FCA Snub
And your point is....?

Nick
Posts: 11027
Joined: July 4th, 2007, 10:10 am

Re: Yet more banking scandals

#45 Post by Nick » February 14th, 2014, 5:09 pm

Graham R wrote:Barclay's justification is that they have to pay competitive salaries or they would lose their best people.
However as profits are down their best people seem not to be doing their best.
So perhaps it's time for a change of personnel.
As reported in the press, in the previous year, Barclays lost a chunk of their most productive staff, poached by another bank. That is one reason why profits were down. In what world does it make sense to repeat the same mistake if one wants to be successful?


I continue to be bemused by the anxiety of some posters that the workers should not be rewarded for their skills and efforts, which should instead be reaped by capitalist bastard shareholders... :wink:

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Alan H
Posts: 24067
Joined: July 3rd, 2007, 10:26 pm

Re: Yet more banking scandals

#46 Post by Alan H » February 14th, 2014, 5:53 pm

Nick wrote:As reported in the press, in the previous year, Barclays lost a chunk of their most productive staff, poached by another bank.
Who were they?
I continue to be bemused by the anxiety of some posters that the workers should not be rewarded for their skills and efforts, which should instead be reaped by capitalist bastard shareholders... :wink:
:laughter:
Alan Henness

There are three fundamental questions for anyone advocating Brexit:

1. What, precisely, are the significant and tangible benefits of leaving the EU?
2. What damage to the UK and its citizens is an acceptable price to pay for those benefits?
3. Which ruling of the ECJ is most persuasive of the need to leave its jurisdiction?

User avatar
Alan H
Posts: 24067
Joined: July 3rd, 2007, 10:26 pm

Re: Yet more banking scandals

#47 Post by Alan H » October 2nd, 2015, 10:17 am

The FCA has today announced it is thinking of introducing a deadline for PPI claims. Which? responded:
Which? executive director, Richard Lloyd, said:

“It’s been clear for years that banks should be working much harder to resolve PPI claims fairly and a time limit must not reward those that have dragged their heels over paying out compensation.

“If a timebar is introduced, the FCA must make sure all banks carry out a complete review of their PPI handling. Efforts must be redoubled to ensure that anyone missold PPI is given fair, speedy compensation so that people get back what they’re rightly owed.”

Background:

​The total amount now set aside by the big five banks alone for PPI compensation is around £2​6.7 billion. This breaks down as follows:

– Lloyds Banking Group has so far set aside £13.4 billion

– Barclays has so far set aside £5.97 billion

– RBS has so far set aside £3.81 billion

– HSBC has so far set aside £2.63 billion

– Santander has so far set aside £846 million

Which? has a free online tool to help people put in their claim for a PPI refund here: http://www.which.co.uk/consumer-rights/ ... sold-ppi​​
£30 billion. Staggering.
Alan Henness

There are three fundamental questions for anyone advocating Brexit:

1. What, precisely, are the significant and tangible benefits of leaving the EU?
2. What damage to the UK and its citizens is an acceptable price to pay for those benefits?
3. Which ruling of the ECJ is most persuasive of the need to leave its jurisdiction?

User avatar
Alan H
Posts: 24067
Joined: July 3rd, 2007, 10:26 pm

Re: Yet more banking scandals

#48 Post by Alan H » October 26th, 2016, 6:51 pm

Lloyds sets aside extra £1bn for PPI mis-selling
Lloyds Banking Group has set aside a further £1bn to pay compensation for mis-sold payment protection insurance (PPI).
The extra provision was expected after the deadline for PPI claims was extended to June 2019
...
The extra provision for PPI claims comes on top of the £16bn Lloyds has already set aside to tackle PPI mis-selling. It is the bank worst affected by the PPI mis-selling scandal.
Alan Henness

There are three fundamental questions for anyone advocating Brexit:

1. What, precisely, are the significant and tangible benefits of leaving the EU?
2. What damage to the UK and its citizens is an acceptable price to pay for those benefits?
3. Which ruling of the ECJ is most persuasive of the need to leave its jurisdiction?

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