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PPI Judicial Review - The Banks Lost!

PPI Judicial Review The banks have lost a High Court judicial review concerning the mis-selling of Payment Protection Insurance.

The British Bankers' Association (BBA) trade body failed to overturn Financial Conduct Authority (FCA) rules that force banks to contact and compensate those mis-sold PPI – to cover loan and credit card payments if you cannot work – even where no complaint has been made.

This victory for consumers could enable you to reclaim thousands of pounds in compensation.

What was the PPI judicial review argument all about?

The FCA implemented rules in December 2010 that forced banks to review past sales of PPI. The banks have set aside £22 billion in compensation for consumers!

The British Bankers’ Association (BBA) trade body failed to overturn Financial Conduct Authority (FCA) rules that force banks to contact and compensate those mis-sold PPI even where no complaint has been made.

What is PPI?

Payment Protection Insurance (PPI), Sickness and Unemployment Cover (ASU) has been sold alongside credit agreements for years. Whether you have a Secured Personal Loan, a Credit Card, or Mortgage the purpose of this insurance was to ensure loan repayments were paid if you were unable to work through illness, made unemployed or become incapacitated.

The insurance is in controversy, because it was often mis-sold to consumers. Some consumers misunderstood their loan contracts and had no idea that PPI insurance was included in a loan agreement. Some people did not have the necessary education to read and understand a loan contract, so they also had no idea PPI insurance was being included in a monthly payment to a bank.

If you were mis-sold PPI insurance you can now reclaim past payments from banks. In most cases you will also be able to recover 8% interest too.

PPI Judicial Review - Can I Reclaim PPI?

If you think you may have been affected by the PPI judicial review we encourage you to contact us. We can review your financial records and determine if PPI insurance was ever mis-sold to the you. In many cases, you will have PPI insurance on your financial record and have absolutely no idea it exists there. That is where our PPI Reclaim service can be of a great help. We will work extremely vigorously to ensure you get back what you are owed. Complete the form today and see if you are entitled to a PPI refund.

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