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So, who sold PPI? The good news, or bad news, whichever way you look at it, is that most banks sold Payment Protection Insurance, commonly known as PPI.
We have listed some of the main culprits at the bottom of this page but don’t worry if your lender doesn’t appear, it is still highly likely that it sold PPI.
Don’t be fooled if your bank or lender has a different name for the insurance, it is generally the same thing.
The Financial Conduct Authority (FCA) set a deadline for consumers to make PPI complaints to their bank.
That deadline has now passed.
The deadline itself remains highly controversial, as it appears that the only real beneficiaries are those at the centre of the scandal, the banks.
Indeed, the banks are still in profit to the tune of tens of billions, so it could be argued that they have profited from fraud.
The rules set by the FCA for banks to follow when they receive a PPI complaint have also proven to be highly controversial.
It could also be debated that the banks have taken advantage of these rules in order to pay out less compensation than perhaps they should
An increasing number of complaints are now being issued directly via the courts, which appear to take a different view to the FCA.
If your case was rejected by the bank or Financial Ombudsman Service we can take a look at your case to see if it qualifies to be looked into further by our panel of trusted solicitors.
The check is free, and if you have a copy of the rejection letter(s) we only require one signature from you to carry out the checks.
If you don’t have a copy of the rejection letter we will issue an information request to your bank to obtain a copy, with your authority.
We will notify you as soon as we have confirmed whether your case could qualify.
If we believe your case may qualify we just require one more signature from you in order to pass the case for litigation.
Please do not worry, you will not be asked to attend court as our panel of solicitors will represent you.
On average, banks made 67% commission on PPI policies it sold.
Banks have arguably taken full advantage of the highly controversial guidance from the Financial Conduct Authority, which states that, based on certain criteria, the banks only have to refund the difference over 50%.
This has seen, in an overwhelming number of cases, banks only refunding, on average, 17% of premiums and associated interest.
If you believe you have only received a partial refund we can take a look at your case to see if it qualifies to be looked into further by our panel of trusted solicitors.
The check is free, and if you have a copy of the rejection letter(s) we only require one signature from you to carry out the checks.
If you don’t have a copy of the rejection letter we will issue an information request to your bank to obtain a copy, with your authority.
We will notify you as soon as we have confirmed whether your case could qualify.
If we believe your case may qualify we just require one more signature from you in order to pass the case for litigation.
Please do not worry, you will not be asked to attend court as our panel of solicitors will represent you.
