Mis-selling of PPI has turned into one of the largest financial scandals the UK has ever seen; almost 100,000 complaints from borrowers have been recorded in the first half of this financial year alone. The Financial Ombudsman Service (FOS) has reported that the volume of new complaints in the past three months – almost 67,000 […]
Tag: mis-sold payment protection insurance
PPI claims running at 3000 a week
According to the latest figures, compensation has been paid out to hundreds of thousands of people for being mis-sold payment protection insurance, or PPI, with banks forking out £557m in the first 6 months of 2011 alone. The FOS, Financial Ombudsmen Service, which rules on customers complaints about the controversial insurance that the banks have […]