Reclaim your Loans.co.uk PPI – Loans.co.uk PPI Fine - Payment Protection Insurance Claims

In 2006 the Financial Services Authority fined Loans.co.uk Limited (LCUK) £455,000 for failing to treat its customers fairly when selling Payment Protection Insurance (PPI). The regulator found that LCUK did not have appropriate systems and controls to minimise the risk of unsuitable sales.

At LCUK, PPI was sold on an advised basis over the telephone. The FSA investigation found that the firm failed to gather and record information to show that the policy recommendations it made were suitable. The FSA discovered that customers did not receive enough information at the point of recommendation to make an informed decision about the PPI policy being offered. Therefore, customers could not be sure if LCUK's recommendation was the right option for them.

LCUK's breaches were particularly serious as the failings exposed approximately 14,400 customers to the risk of the sale of PPI which was unsuitable for their needs.

Source FSA

Unfair PPI agreements affect many of the UK population.  Now you can do something positive and fight back with no upfront fees to pay.

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