Nick Baxter is an Independent Retail Banking Consultant (focusing on credit risk, compliance and consumer products)”; he has an intimate understanding of financial law and compliance. He was a member of the Mortgage Code Compliance Board (MCCB) Advisory Group and its disciplinary Committee up until the FSA took over in 2004. Nick has also given advice to European Commissioners, lenders, trade associations and consumer groups, in Brussels on the European code of lending practice.
A recent interview with Natalie Ceeney, Head of the Financial Ombudsman Service (FOS), with the Mail Online gave a fascinating insight into the scale and complexity of running the organisation that is tasked with the job of ‘putting right what Read more…
FOS to take on 1000 more staff to deal with PPI Claims The Daily Telegraph recently quoted Natalie Ceeney, Head of the Financial Ombudsman Service (FOS), as criticising banks for “demonising customers”. Her thoughts will not surprise those who have Read more…
The most recent figure issued by the Financial Conduct Authority (FCA), published 27 June 2013, shows that since January 2011 £10.1 billion has been paid back to customers who complained about the way they were sold Payment Protection Insurance (PPI). Read more…
Sir Mervyn King, the outgoing Governor of the central bank, gave a stark warning about interest rates recently. He warned that the high levels of mortgage debts of homeowners in their 30s and 40s meant that if the Bank of Read more…
Sir Mervyn King, the outgoing Governor of the central bank, gave a stark warning about interest rates recently. He warned that the high levels of mortgage debts of homeowners in their 30s and 40s meant that if the Bank of Read more…
The exponential growth in bridging lending has been fuelled by four factors, all of which increase the risk of mis-selling: The tightening of main stream lenders lending policies has created the opportunity for secondary lenders to develop a suite of Read more…
Anyone who reads the financial trade press will be acutely aware of the strength of feeling against Claims Management Companies [CMCs] within the financial community. The volume of negative comments from financial intermediaries appears to have reached another crescendo following Read more…
A recent Advertising Standards Authority [ASA] Adjudication has given helpful clarification in respect of two aspects of the way financial claims are marketed. A Claims Management Company [CMC] had carried out a campaign which acknowledged that prospective complainants could handle Read more…
There will be those who ask, “why is there a need for a professional financial claims association (IBFSA) now? To answer this question one needs to think back to why financial claims management companies exist. Over the last few decades Read more…
High profile SIPPs case just the tip of the iceberg
Could mis-selling annuities be a bigger scandal than PPI?
Banks Still Breaking PPI RulesThe members of the Professional Financial Claims Association wish to set professional standards for member firms...
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