Connect with us

Hi, what are you looking for?

Business

Total paid out for mis-sold PPI more than £35bn as deadline for claims approaches

The Financial Conduct Authority (FCA) has today warned consumers the deadline for complaints about m..

The Financial Conduct Authority (FCA) has today warned consumers the deadline for complaints about mis-sold payment protection insurance (PPI) is in two months.

According to figures released today, the FCA has had more than 3.9m users access the PPI website and 44,000 calls to their contact centre.

The FCA has enlisted the help of celebrities such as actor Arnold Schwarzenegger and 1990s aerobics enthusiast Mr Motivator to encourage people to check if they were mis-sold PPI before the deadline.

A total of £334.4m was paid in April to customers who complained about the way PPI was sold.

This takes the total amount paid since January 2011 to £35.3bn.

Emma Stranack, of the FCA, said: “With just over 10 weeks to go, time is running out to claim back money for PPI. Simply put, if you havent complained to your provider by 29 August 2019, you wont be able to claim money back for PPI – so you should make your decision as soon as possible.”

Personal finance expert Sarah Pennells said: “The PPI deadline is fast approaching – so now is the time to contact your bank, loan or card company as soon as possible. You can complain to them directly for free aRead More – Source
[contf]
[contfnew]

CityAM

[contfnewc]
[contfnewc]