Alex Neill, Director of Policy and Campaigns, Which?, said:
“The PPI scandal has been one disaster followed by another, it is the country’s biggest financial scandal with a wholly inadequate redress scheme.
“If a PPI deadline is to be introduced, when millions of pounds are still being set aside for payouts, the FCA must work with banks to ensure that customers who might not know they were mis-sold PPI get back the money they are owed. The process for making a claim must be much more straightforward.”
- For more information on how to reclaim mis-sold PPI, consumers can use the free guide and tools on the Which? Consumer Rights website to keep 100% of their compensation - http://www.which.co.uk/ppi