Monthly Archives: February 2013

Delayed Compensation caused Lloyds to be Fined £4.3 Million

There were a number of 140,000 customers of the Lloyds Banking Group who were affected with the delays in PPI claims for compensation. The bank has already apologized to their valued customers regarding the said delay. It is not easy for the bank’s customer to experience delay in PPI payments. There must be something wrong with the bank’s standard on the release of PPI compensation to the customers. The Financial Services Authority (FSA) was unhappy about how the bank handled the customer’s PPI payments causing all the customers to wait for almost six long months for their PPI compensation.

The bank has been given a fine amounting to £4.3 Million because of the tons of complaints they have been receiving from their customers. The concerned regulators released a statement saying that the banks failed in establishing a trusted process in preparing the compensation addressed to the customers who complained from the banks like Lloyds, Bank of Scotland, and TSB. Lloyds bank was said to have save an amount of £5 billion that is allotted to compensate the customers who purchased products that weren’t useful.

The regulators have given the bank a fine since they should pay for their delays. The bank already said that they are following a target to pay their customers after each would be receiving letters from the bank. The target would last for 28 days. The bank has already sent out decision letters to a number of 582,206 customers in the month of May 2011 until March of last year but according FSA the bank has let a number of 87,000 customers wait not for 28 days but it reached until forty-five days. The complaints that the bank has been receiving is a result of their own failure.

To find out more about PPI compensation see PPIClaimCo.com.

Last Monday, Pope Benedict XVI resigned as Pope of the Roman Catholic Church. The Pope’s decision was said to have caused speculation on who will be his successor. The surprising resignation of the Pope from his office was known worldwide and a lot of feedback mostly from the countries dominated with Roman Catholics were having varied opinions about the Pope’s recent decision to step down from his office for he might not be able to render his service due to health reasons as released by the Vatican.

A number of one hundred eighteen cardinals coming from different countries will take part in choosing the next Pope on March. The composition of the cardinals is mostly coming from European countries as stated by the statistics from the Vatican. Everyone is guessing on who will follow Pope Benedict’s footsteps. Since they are aware that the College of Cardinals is composed of cardinals mostly from Europe, a lot have made conclusions that the succeeding Pope will be coming from one of the European nations. Roman Catholicism has been growing in the countries like Africa, there is a possibility that the next Pope will come from Africa.

The College of Cardinals will convene at the Vatican for the purpose of choosing the new Pope and once they have already chosen, the awaited white smoke will be the only sign that there’s a new Pope. During Pope Benedict XVI’s election as Pope, the results came out quickly. The gathering this March in the Vatican would probably draw a lot of Roman Catholics excited to see their newly elected Pope.

Spanish Tourists Raped in Mexico

The number of violence took its high toll last year, including gun violence and the violence against women. The countries like the United States and India have already acted on the same issue on violence and are pushing an agreement or possible laws to penalize the criminals involved in such horrific and violent attacks among women, children, and innocent people.

Still new from last year’s uncountable violence, there’s a new incident that happened last Wednesday in one of the resorts in Acapulco, Mexico. There were Spanish tourists who were harassed by unknown gunmen and they were also raped. It is very unfortunate for the number of fourteen victims that were the target of armed men in the resort. Six of the fourteen victims were raped by the said criminals. The said tourists who were apparently spending some time in the beach resort for their vacation did not expect that something horrible would happen to them. The said incident have already spread worldwide and making a lot of tourist fear of their security when traveling.

The Foreign Ministry of Mexico was working with the Spanish Embassy regarding the victims’ situation. The said Spanish tourists were now under the custody of the Mexican authorities who were in charge of investigating the case. The Mexican government also strengthens their ties with the Spanish people and continues to work on the case. All the Spanish victims who were between the age of 20 to 34 years old were protected by the Mexican Police. There were a lot of investigators solving the case and the area were the crime had happen was secured by the authorities.