PPI redress hits £1.9bn in 2011
Firms paid out £1.9bn in payment protection insurance redress last year, according to the latest figures from the Financial Services Authority.
Payments were £441m in December 2011, the largest month so far for PPI compensation pay-outs.
The Financial Ombudsman Service is taking 1,000 new PPI complaints every day. The majority of the potential claims are about policies often sold by banks alongside credit cards and loans.
February 27, 2012
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