PPI and the FCA
The FCA PPI deadline campaign is in full swing. Do you know what the role of the FCA is and how to make a claim?
The PPI deadline is looming, as consumers rush to make their claims before 29th August 2019. It’s been over a decade since the mis-selling scandal came to light, as we discovered millions of customers were sold PPI policies when they didn’t need them.
PPI was frequently sold alongside credit cards, mortgages and loans, but only a few wanted the insurance. Many people were told that it was compulsory or did not have the full terms and conditions explained to them. Many bank employees felt pressured to sell PPI and had bonuses attached to their sales.
The Financial Conduct Authority (FCA) wants to bring an end to the PPI scandal. As it urges consumers to make a claim, we explain its role in the PPI scandal and how to make a claim.