PPI victims 'should have got £5bn more'

PPI victims 'should have got £5bn more'
 

Twelve million consumers who were mis-sold Payment Protection Insurance (PPI) should have got an extra £5bn, a group of MPs has said.
That is the total amount that claims management companies charged clients to process their complaints.
MPs on the Public Accounts Committee (PAC) said they were disappointed the money did not go to the victims of the scandal.
Their report said this amounted to "a failure of regulation and redress".
Consumers can complain directly to the Ombudsman free of charge - yet so far, 80% have chosen to go through claims management companies, which take up to... read more

 
13 May 2016 in Business, Views: 38
Source: BBC
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