It's claimed management companies have pocketed up to £5 billion of consumers' compensation for mis-sold PPI.
Research by Citizens Advice says a slow reaction by banks created a chance for claims firms to swoop in and take compensation. It's also claimed that many PPI firms are failing to make their terms and conditions around fees and cancellation agreements clear. Fraser Sutherland from Citizens Advice Scotland says PPI is the gift that keeps on giving:
10°C
10°C
9°C