Tag Results

CMC fights off challenge from Lloyds over PPI advert

Crystal Legal Services, a claims management company (CMC), has seen off a challenge from Lloyds Banking Group to one of its PPI adverts after three other CMCs had fallen foul of complaints by the bank.

March 30th, 2016 | No Comments »

Complaints about CMCs hit 9,000 after only six months, LeO says

The number of complaints about claims management companies received by the Legal Ombudsman in the first six months of this year has hit almost 9,000 – a far higher amount than expected. However the number actually investigated was lower than predicted.

November 5th, 2015 | No Comments »

Osborne: CMCs face fundamental review and fees cap

A “fundamental review” of claims management companies – along with a cap on the fees that they can charge consumers – was announced by Chancellor George Osborne in today’s Summer Budget.

July 8th, 2015 | 2 Comments »

Only 4% of CMC complaints relate to personal injury work, LeO reveals

Only 4% of complaints about claims management companies (CMCs) received by the Legal Ombudsman (LeO) relate to personal injury work, it has emerged, in the first release of figures since Leo began its new role.

June 5th, 2015 | 1 Comment »

Claims management company wound up over misused client funds

A Bradford-based payment protection insurance claims management company, has been wound up by the High Court, following an investigation by the Insolvency Service.

November 25th, 2014 | No Comments »

Claims management regulator “still not tough enough”

The Claims Management Regulation Unit is “still not tough enough” in tackling the behaviour of financial services claims management companies, a leading consumer credit specialist has said.

September 3rd, 2014 | 1 Comment »

CMCs using “special arrangements” with banks to avoid investigating PPI cases

Some claims management companies (CMCs) are using special pre-submission arrangements with the major banks to avoid investigating PPI cases, it has emerged.

August 15th, 2014 | No Comments »

CMCs continue to deluge Financial Ombudsman with PPI complaints

The message that consumers do not need to use claims management companies to make complaints about mis-sold payment protection insurance is not getting through, the Financial Ombudsman Service admitted yesterday.

May 21st, 2014 | No Comments »

CMCs “cash in” on up to £5bn of PPI compensation, says Citizens Advice

Claims management companies have pocketed up to £5bn of the £22bn of compensation secured by consumers for mis-sold payment protection insurance, according to an analysis by Citizens Advice.

March 6th, 2014 | No Comments »

CMCs’ turnover tops £1bn as referral fee ban prompts mass exodus from personal injury

The turnover of claims management companies spiralled 31% last year to top £1bn, with the turnover for the financial claims sector exceeding that of personal injury companies for the first time, Ministry of Justice figures have shown.

July 23rd, 2013 | No Comments »