Latest Releases

“It’s critical that people know they’re paying a fair price and don’t feel frozen out of the market.” – Which? response to the Government announcement for a major review into the market for financial advice”

Which? executive director, Richard Lloyd, said:  “For financial services to work well it’s absolutely vital that people get the affordable, impartial advice they need to make good choices with their money. So the Government’s review, which we warmly welcome, must be focused squarely on how to give consumers more power to make better financial decisions at […]

“T​h​is scandal will rumble on for years unless​ the banks pull their socks up” – Which? response to Lloyds Banking Group setting aside an extra £1.4 billion for PPI mis-selling

Which? executive director, Richard Lloyd, said: “The staggering extra provisions set aside​ for PPI mis-selling this week, including the whopping £​1.4 billion from Lloyds, clearly show there’s still huge numbers of consumers yet to be compensated. ​T​h​is scandal will rumble on for years unless​ the banks pull their socks up and start making it much quicker and easier for people […]

“The Government must take action to make sure everyone who wants to take advantage of the freedoms can” – Which? response to Government consultation on pension exit penalties

Which? executive director, Richard Lloyd, said: “If the pension reforms are to be a genuine success, the Government must take action to make sure everyone who wants to take advantage of the freedoms can. People should be able to switch without being stung by excessive exit fees if their provider doesn’t offer the full flexibilities. The Government should also consider what other reforms are needed to further protect savers, […]

“Customers will no doubt wonder why cuts to their bills haven’t gone further” – Which? response to British Gas profits announcement

Which? executive director, Richard Lloyd said: “While it’s good to see the new commitment from Centrica to focus on serving customers, with British Gas profits high and wholesale prices low, customers will no doubt wonder why cuts to their bills haven’t gone further, and haven’t included electricity. “The CMA has confirmed that household bills should be lower […]

“The industry continues to woefully underestimate the size of this scandal” – Which? response to Barclays £750m extra PPI redress provision.

Which? executive director, Richard Lloyd, said:​​ “We expect that ​Barclays will be the first of several ​big ​banks to set aside millions ​in extra provisions for PPI,​ as the industry continues to ​woefully ​underestimate the size ​of ​this scandal​​. “It’s wrong that consumers are forced to use alternative routes to get redress, but we’re going to be hearing the same story year after year […]

“Good to see Ofcom taking long awaited steps” – Which? response to Ofcom’s consultation to improve mobile phone switching

Which? executive director, Richard Lloyd, said: “It’s good to see Ofcom taking long awaited steps to make switching mobile companies easier. We want the new provider to be responsible for the process so it is simpler for consumers. Phone companies should also alert customers when their contracts are about to end and unlock handsets for free […]

“It’s absolutely right that payday loan customers are compensated for such poor practices” – Which? response to Cash Genie providing £20 million redress to customers for unfair practices

Which? executive director, Richard Lloyd, said: “It’s absolutely right that payday loan customers are compensated for such poor practices. The Financial Conduct Authority must keep the pressure up to ensure borrowers in difficulty are treated fairly and protected from falling further into a spiral of debt. As well as keeping the price cap under review, the […]

Banks fail tax knowledge test

Many of Britain’s biggest banks and building societies have shown a woeful lack of up to date knowledge about tax on savings, with two of the largest providers only scoring half the available marks in our tests. From next April, 95% of savers will no longer have to pay tax on their savings, but until […]

“The Government can’t keep throwing money at a scheme that has spectacularly failed to take off” – Which? response to Government’s Green Deal funding announcement

Which? executive director, Richard Lloyd, said: “We welcome this move as the Government can’t keep throwing money at a scheme that has spectacularly failed to take off.  Ministers should now work with consumers to put together a realistic new approach that is genuinely good value and helps people to save money by saving energy.”

“Nobody should have to pay a premium to complain” – Which? response to the FCA’s announcement on complaints handling and call charges

Which? executive director, Richard Lloyd, said: “Nobody should have to pay a premium to complain, so we’re pleased the FCA is making financial firms play fair with their customers. This is another victory for the 90,000 people who supported our Costly Calls campaign. “Some of the biggest banks have already dropped ​higher rate numbers for […]