London, UK -- (SBWIRE) -- 06/19/2013 -- As we are all aware in the UK the financial services market has been heavily criticised in the last few years for their practices of misselling financial products to the UK consumer and none more than the major Banks for their misselling of payment protection insurance which is set to cost them £25 billion before it is finished.

Many of the major Banks have already been fined for misselling this product or have been fined for not dealing with complaints in an appropriate way including Lloyds TSB Bank, Santander and the Co-Operative but to name a few and the sad thing is that none of them seem to be learning from it.

If we look at the revelations in the last few weeks from some of the leading newspapers in the UK it is apparent there is still a major problem that needs to be resolved and resolved quickly.

The Financial Ombudsman cannot cope with the amount of claims that they are receiving for ppi and the Banks cannot be trusted to act fairly with consumers so what has to be done to resolve this major problem?

We have seen Lloyds come under more fire from the revelations in the Times newspaper and today sees another major bank Barclays being criticised for not paying a client out after 8 weeks of agreeing to do so.

These kind of tactics can no longer be accepted and it is time David Cameron intervened in this mess to protect the UK consumers once and for all.

Martin Lewis ppi claims encouraged people to go it alone along with Which magazine but with the recent revelations this may have cost the consumer millions as it is clear to see banks are hoping that people will accept their decision and not pursue the matter any further and with over 45% of claims at the Financial Ombudsman from claims management companies it is clear to see that these type of companies do have a role to play in helping the consumer get justice.

The first step that needs to be done in the interests of the consumer are that every claim that has been rejected needs to be reviewed independently to ensure the consumer has not had any wrong done to them. This is for all banks and other companies that sold ppi in the past.

The government then needs to specifically set up a body to oversee the whole process and give them powers to inspect the banks complaint handling procedures and the ability to audit cases on an adhoc basis as this will give consumers far more confidence in the system and to ensure they are treated fairly.

So now is the time for Mr Cameron to step up and show the British public just how much the government really cares about us otherwise this mess will continue to grow and I am sure their will be many more stones to be uncovered before the problem goes away.

To find out more about ppi including how to submit a claim on your own visit www.myppiclaims.com