Hows about a bit of industry news, ready? Ok… Mortgage Payment Protection Insurance (MPPI) provider Cardif Pinnacle is to be the new supplier of the product to Yorkshire Building Society customers. Speaking about the deal, Cardif Pinnacle’s Chief Commercial Officer said: “Being chosen to partner Yorkshire Building Society in this competitive market is a great endorsement of the product and service we can provide”.

This news may be a little bigger than you think as Yorkshire Building Society is the UK’s second largest building society and many people’s PPI claims stand to be affected by the agreement. Mind you Cardif Pinnacle aint no slouches either, they’re the UK insurance arm of banking group BNP Paribas, those lot that always advertise at the French Open.

Remember when we bailed the banks out last year, giving them hundreds of billions? Well don’t worry because we won’t have to do it any time soon, they’re all making record profits now by screwing you and me with the highest personal loan interest rates since 2001.

The Bank of England base rate is still at 0.5% yet the average loan rate is almost 25 times that at 12.4% meaning that our cash is being loaned back to us at criminally unfair rates. Back at the beginning of the decade in in 2001 the average loan rate was 12.5% which gave banks a 6.5% profit margin but with the current low base rate banks are making average profit margins of 11.9%. They mess the country up then bleed it dry, I’m not sure how this is legal but then; what does that matter to those boys.