Around 12 million policies are in circulation, typically costing customers £5 monthly per £100 of coverage on a mortgage policy and up to £20 or more a month per £100 of personal-loan protection. ❋ Margot Patrick (2011)
The bank has been widely credited for launching a retail loan revolution in India in the early 2000s and its focus on growth drove up bad loans as many credit-card holders and personal-loan customers defaulted on payments during the global economic crisis. ❋ Nupur Acharya (2011)
The German president's personal-loan scandal has become a trial by media. ❋ Josef Joffe (2012)
Earlier this year, the bank announced plans to wind down the unit's personal-loan business, keeping only its credit-card business. ❋ Unknown (2009)
The bottom line included a hefty gain on GE's sale of its plastics business, but it was offset by charges relating to its U.S. subprime-mortgage business and its Japanese personal-loan operation, which GE is shedding. ❋ Unknown (2007)
Foreign Demand Buoys GE General Electric posted a 14% rise in third-quarter net, amid gains from the sale of its plastics business and charges as it moves to shed its Japanese personal-loan operation and its U.S. subprime-mortgage business. ❋ Unknown (2007)
Competition in the personal-loan market has been intense since the start of the year, with eight lenders now offering deals for less than 8 per cent, and M&S Money now charging 6.9 per cent on loans of £7,500- £15,000. ❋ Unknown (2011)
July 27 Bloomberg -- Banco Santander SA, Spain's biggest bank, said second-quarter profit dropped 38 percent as Spanish loan provisions surged and it set aside funds for customers mis- sold personal-loan insurance in the U.K. ❋ Unknown (2011)
May 9 Bloomberg -- HSBC Holdings Plc and Barclays Plc will set aside more than $2 billion for customers improperly sold personal-loan insurance after British banks abandoned a lawsuit to avoid paying compensation. ❋ Unknown (2011)
The lender said costs as a proportion of income rose to 60.9 percent from 49.6 percent, and that it set aside $440 million to compensate clients who were improperly sold British personal-loan insurance. ❋ Unknown (2011)
British banks are compensating customers improperly sold personal-loan insurance, which covers payments on credit cards and mortgages in case of illness or unemployment. ❋ Unknown (2011)
- Mortgage and personal-loan providers will have to advertise PPI alongside their credit products, rather than burying the insurance within the loan. ❋ Unknown (2008)
- The lender (be it a credit-card provider, mortgagor or personal-loan provider) must state clearly the cost of the PPI in a quote, rather than burying the cost as they have done previously. ❋ Unknown (2008)
To compare the total cost, ask for the 'total amount repayable' figure, and get similar comparisons with your personal-loan search. ❋ Unknown (2008)
Declining to name the banks, Pillay said not all four of the big ones were applying the legal principle of "set-off", which entitled them to take money out of a client's cheque or savings account if credit-card or personal-loan payments to the bank fell into arrears. ❋ Unknown (2008)
