As reported by Law360, The Financial Conduct Authority set out draft proposals for U.K. lenders on Wednesday (4 July 2018) on when they should reveal high commissions charged on payment protection insurance after a potentially game-changing court decision that could force banks to pay billions of pounds in additional compensation. The regulator acted after Manchester County Court ruled on June 26 that a personal finance company must repay in its entirety a 76 percent commission, plus interest, to two customers who paid the sum unwittingly.

Also reported in The Mirror, Britain's banks could face another £18billion in PPI payouts after a court granted one couple a significant amount, against regulator rules. Christopher and Joanne Doran have been handed a total of £17,345 by Paragon Personal Finance after a judge said they should be awarded all of the commission they paid plus interest on their loan.

As reported in The Guardian, Britain’s banks face the threat of a huge new PPI bill that could add billions of pounds to the £30bn already paid out in compensation, following a court ruling lauded by claims management companies as “hugely significant”.

The Alliance of Claims Companies (ACC), a collective group of Claims Management Companies, working together to ensure fair customer outcomes, which was formed to promote best practice and excellent customer service across the claims management sector, has become the latest member of the Ministry of Justice (MoJ) Claims Management Regulator’s Consultative Group.

I've heard in the past week worrying tales from across the UK that concern my member companies.

It seems that fraudsters are calling consumers across the UK and falsely claim to be representing ACC member companies and are 'seeking to engage consumers' in a PPI redress claim. They are then telling consumers they need to secure the claim by paying an upfront fee of £99 - payable immediately on a credit card. In some instances I believe an amount of £999 was drawn from the unsuspecting consumer's card.