Property News · May 27, 2015

Banks face bigger PPI mis-selling bill as regulator considers compensation rules


Financial Conduct Authority statement means more customers could be eligible for payout because of supreme court ruling on commissions Banks could face a bigger bill for mis-selling payment protection insurance after the City regulator said it was considering new rules on how customers should be compensated.The Financial Conduct Authority statement means more customers could be eligible for compensation because of a supreme court decision. The court ruled in November that if a PPI seller failed to disclose to a customer that it had received a large commission from the product provider, the sale was unfair under the 1974 Consumer Credit Act. Continue reading…

Source : theguardian.com
Read more…Banks face bigger PPI mis-selling bill as regulator considers compensation rules

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