Ann: Increase in legacy PPI costs, page-50

As a shareholder, I find it infuriating that CYB bank is using its profits (indirectly being paid by us shareholders via lower share price) to pay an industry of scumbags consisting of lawyers and "claim specialists" who are targeting bank customers with "no-fee no win" arrangements where they typically take 30% of the claim pay-out (if any). To be clear, I have no problem with the compensation being paid where the claims are valid, it is the false claims I have an issue with.

I am not sure if it is legal or ethical, but if the banks had the foresight to see the high level of claims they would receive, the majority with no basis of claim, perhaps they could have charged a 50-100 pound processing fee, which is fully refundable on the successful payout of their claim. Something like that would have been a deterrent for all the frivolous claims they are now receiving and may have created an obstacle for the "claims specialist" industry.