RBS and Lloyds won't play nice over PPI payouts
The Royal Bank of Scotland and Lloyds Banking Group clearly think that Barclays are a big pile of jessies as they won't be following their lead on the offer of automatic payment protection insurance payouts.
Barclays announced yesterday that they're going to pay out some of its customers' PPI complaints, 'no questions asked', after they got stung by the High Court for misselling of PPIs. RBS and Lloyds obviously believe this is wimp-talk.
In fact, they're going to ask lots and lots of questions, preferring to look at claims on a case-by-case basis.
Kath Allen, spokesperson for RBS, says: "We are taking active steps to process all complaints within the Financial Service Authority's (FSA) timeframes. We remain focussed on making sure our customers get a fair outcome within those timeframes." So if you made a claim before 20th April, you should have a decision by 31st August. Anything after that, you should have a response within 16 weeks.
Charlotte Sjoberg, spokesperson for Lloyds Banking Group, says: "We are handling all PPI complaints fairly and consistently regardless of when they were received. We will ensure that we provide a clear response to every customer that has submitted a complaint to us before 6 May by the end of August.
"For customers who have submitted a complaint on or after 6 May, will we provide a full response within 16 weeks of receiving the complaint."
There you have it. No gestures of goodwill from this particular shower of shits.