A new twist in the Payment Protection Insurance scandal
Marketed in the years 1990 to 2000 by various lenders, the PPI contained provisions making them useless when borrowers legitimately made recourse to them. Other consumers have been forced to contract these insurance covers without their consent.
The 2.5 million complaints which date back to 2012 and 2013 would not have been adequately addressed or have not resulted in sufficient compensation. Nearly 13 million cases had been previously studied, costing 20 billion EUR (27 billion USD). Hence, the bill is poised to increase.
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Tue, 04/11/2014 - 11:05
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