Amount paid to PPI complainants in first half of 2011
The Financial Services Authority (FSA) says the amount of redress paid by firms during the first six months of 2011 to consumers who have complained about the way they were sold payment protection insurance (PPI shows that 16 lenders have paid a total of £215 million in redress between January and June 2011. In May and June alone, following the dismissal of the industry’s legal challenge to the FSA and the Financial Ombudsman Service, £102 million was paid out.
Income protection insurance news: 3 September 2011
