21.07.2009
Lion Claims was established
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(trading name for PPI Claim Management Company Limited) provides a professional service that delivers results for people just like you by claiming back payments made for mis-sold Payment Protection Insurance policies. Everyday we win settle
03.02.2011
Lion Claims began running PPI claims
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Lion Claims began running PPI claims
01.01.2005
After concerns raised in mainstream media, FSA invesigate.
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After more than 7 years of exposure started by Which? Concerns raised in mainstream media and the Financial Standards Authority invesigate.
01.09.2005
Citizens Advice Bureu Reports on PPI and issues Super Complaint to OFT
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Citizens Advice Bureu Reports on PPI and issues Super Complaint to Office of Fair Trading
01.11.2005
FSA issue first report and identifies poor selling.
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FSA issue first report and identifies poor selling. They write to chief executives with their findings.
01.09.2006
First FSA PPI fines against small companies
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FSA issues their first fines against small companies for mis-selling PPI.
01.10.2006
OFT refers issue to Competition Commission
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The Office of Fair Trading refers the issue of mis-sold PPI to Competition Commission
01.01.2007
FSA fines against large companies
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FSA fines against large companies for mis-selling PPI
01.05.2008
Which? identifies 2m cases of mis-selling
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Which? identifies 2m people who have been sold PPI and will never be able to claim
01.01.2009
FSA asks banks to stop selling PPI
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FSA asks banks to stop selling PPI, Barclays lodges objection.
01.05.2009
May 2009 - FSA bans single-premimum PPI
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FSA bans single-premimum PPI
01.05.2010
FSA ensures PPI complaints do not run out of time
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FSA puts measures in place to make sure PPI claim cases do not expire before customers can be refunded
01.08.2010
FSA created guidelines to protect consumers
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FSA created guidelines to protect consumers
01.10.2010
Banks object to new rules
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Banks object to new rules and put customers PPI claims on hold while they appeal
01.10.2010
Competition Commission bans PPI at point of sale
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The Competition Commission bans PPI at point of sale
01.01.2011
High Court Case begins
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High Court Case against banks over PPI begins
01.04.2011
High Court rules against banks.
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High Court rules against banks in PPI case and order them to repay customers who were mis-sold it. Banks prepare to appeal ruling.
01.05.2011
Banks abandon appeal
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Lloyds drops out of High Court appeal, wishing to draw a line under the affair. They are soon followed by the rest of the British Bankers' Association.
05.05.2011
Lloyds sets aside £3.2bn for PPI
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Lloyds sets aside £3.2bn of their profits to repay mis-sold PPI, hoping it will be enough.
01.08.2011
Barlcays sets aside £1bn for PPI
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Barclays follows Lloyds in allocating £1bn to compensate those mis-sold PPI, an amount that rapidly increased as they'd underestimated the exent of the problem
10.05.2011
Royal Bank of Scotland sets aside 850m for PPI
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Royal Bank of Scotland sets aside 850m for PPI, having already paid out £100m.