Wolters Kluwer: The Neverending Story - Will Mis-Selling Scandals Always Be With Us?
The Financial Conduct Authority’s (FCA’s) monthly figures on payment protection insurance (PPI) refunds and compensation were updated on 4 November 2016 to show that, since January 2011, firms have paid a total of £25.3 billion to customers who complained about the way they were sold this product. That’s a staggering amount of money – more than enough to buy everyone on the planet the largest size of Starbucks cappuccino (think of the tax implications!).
It feels like UK PPI issues have been
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