Heard of Cattles? They were a lender who gave loans to customers with poor credit ratings and that had been turned away by high street banks. Well, surprise, surprise: it all went the way of the pear for them; their shares are suspended and they’re straddled with a debt of £2.4bn.

To make matters worse, Karma has delivered another blow and now the sub-prime lender is facing a law suit for the alleged mis-sale of payment protection insurance (PPI). A class action has been launched against Cattles by a City institution for the misselling of insurance along with failing to pay-out on insurance claims.

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1. Banks Ask For More PPI Refund Claims
2. PPI Compensation Claims Rise As Barclays Win Appeal
3. PPI Claims Reduced By Tighter Regulations
4. PPI Claims Rise As FSA Plays Hard-Ball
5. PPI Given Away For Free