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Britain's biggest bank is receiving more than 2,000 complaints from angry customers every day, it admitted last night. Lloyds received 300,000 complaints in the first six months of this year of which 90 per cent were dismissed.

Thousands of people are gambling their nest eggs in high-risk investments they believe are for careful savers.

Briefly, PPI covers payments on a mortgage, loan or credit card in the event of the borrower being made redundant or falling ill. About 13 million policies are in force, taken out to guard against life’s vicissitudes. But PPI is not a sensible form of insurance, it’s a racket. Only 14 per cent of premiums are paid back to claimants, compared with 54 per cent for home insurance and 78 per cent for motor insurance.

Nearly three million people who took out payment protection insurance (PPI) sold by banks and other lenders could be in line for compensation totaling more than £2bn after the Financial Services Authority today issued new rules on how firms should handle the flood of complaints over mis-selling.

An article in the Financial Times has emphasised the need for financial providers to allow flexibility when dealing with consumer complaints. This is to encourage a shift away from the ‘compliance culture’ as a means of stemming the influx of claims being referred to the Financial Ombudsman Service.

The adviser firm which the FSA censured earlier today pocketed £165,000 in commission for the 29 geared traded endowment policy sales it made over the period covered by the regulator’s enforcement action.

The Financial Ombudsman Service looks likely to see Payment Protection Insurance complaints continue rise in 2010/11, after first quarter figures reveal there have already been 13,520 new complaints.

Lloyds Banking Group has stopped selling payment protection insurance across all five of its brands.

The Financial Services Compensation Scheme (FSCS) paid out £204 million to over 21,000 claimants during 2009/10, with over two-thirds of the payments made for Payment Protection Insurance (PPI) and investment claims.

The 50-year-old warehouseman has a poor understanding of financial matters and had no hope of ever repaying the loans, according to his older brother, Colin Griffiths.

Banks flout official warnings and fob off 300,000 complaints from customers mis-sold payment insurance

Lenders have been told they must not mislead borrowers and must assess if customers can afford to repay loans.

The cut-throat sales practices used by bank staff are exposed in an internal document leaked to Money Mail by a Barclays sales manager.

The Financial Services Authority (FSA) is taking tough action after finding weaknesses in five banks handling of customer complaints.

The banking industry was fiercely rebuked by the City watchdog today for the "unacceptable" way that it handles customer complaints.

Complaints about investment bonds offering unit linked guarantees rose by a third over the past year, according the latest data from the Financial Ombudsman Service (FOS).

Britons are struggling with an astronomical collective personal debt of £1.46 trillion.

Despite stock markets soaring globally over the past year Standard Life has frozen bonus rates for more than 1m with-profits policyholders.

More than three million home-buyers have been warned that their endowment policies are unlikely to pay off their mortgages.

Homeowners depending on Britain's largest endowment provider, Prudential, to pay off their mortgages have been warned they face shortfalls, even though they have been on target for almost 24 years.

The plight of millions of people who face shortfalls on their endowment mortgages is well known but tens of thousands of savers with pension mortgages face a similar predicament — and the City regulator has failed to take any action.

Hundreds of thousands of home owners could be in line to collect hefty refunds for unfair mortgage charges.

 With interest rates at their lowest for centuries, returns are lean on even the largest cash deposits.