Payment protection insurance (PPI)
Emergency Covid loans carry high mis-selling risk, banks fear
Rapid roll-out of government schemes raises legal fears over inequitable client treatment
Op risk data: Brazil bank faces near-$1bn tax probe fine
Also: UBS hit for $77m for spread hikes; PPI costs top £50bn. Data by ORX News
PPI claims take bite out of Lloyds’ capital
Bank says it received average of 150,000 PPI information requests per week in Q2
Legal charges topped £6 billion at UK banks in 2018
Majority of costs relate to legacy issues, including PPI and RMBS mis-selling
Top 10 operational risks for 2019
The biggest op risks for 2019, as chosen by industry practitioners
Top 10 op risks 2019: mis-selling
Concern over sales practices remains amid economic and political uncertainties
Lloyds hikes PPI provisions to £550 million
Since 2011 the UK bank has put aside over £19 billion to resolve PPI claims
Legal woes drain Barclays' capital
A $2 billion fine from the US Department of Justice contributed to a 60bp CET1 capital ratio decline
Not the top 10 op risks
From gender discrimination to the next PPI, a veteran manager looks at forthcoming potential op risks
Top 10 op risks 2018: regulatory risk
Fed’s cease-and-desist order against Wells Fargo spooks market
Top 10 op risks 2018: mis-selling
Speculation rife among survey participants over ‘the next PPI’
The problems with conduct risk loss aggregation
Aggregation of conduct risk losses is recommended practice, but it can seriously distort capital calculations
PPI now a minority of complaints to UK regulator
Less than half of complaints received by the FCA concern PPI mis-selling
PPI disputes becoming more complex – Ombudsman
FCA investigating delays and handling of mis-selling cases
Infographic: PPI costs wrong-foot UK banks four years on
Lloyds, Barclays, RBS and HSBC still topping up provisions
Forward march – Op risk integration strides on
Sponsored survey analysis: Protiviti
Top 10 op risks 2015: mis-selling
Unsuitable products have cost banks billions
Top 10 operational risks for 2015
Heavy regulatory costs and fragile systems will be problems in 2015
PPI payouts remain high despite drop in complaints
UK banks paid out £383m in compensation in July for mis-sold PPI
UK banks to revisit 2.5 million PPI settlements
Banks chase 5.2 million customers who are still to complain
Haste makes waste in conduct risk spending
Efforts to prevent conduct failures may be misdirected