PPI payout deadline- court ruling opens door to claims after 29 August

Industry News | 29/08/19

The official deadline for making a claim against the mis-selling of payment protection insurance (PPI) was 29 August – but a major court victory could mean consumers can earn a payout from their bank after the official deadline.

The August 29 cut-off has been imposed by the City watchdog, the Financial Conduct Authority, to draw a line under a mis-selling scandal that has resulted in billions of pounds in compensation.The FCA’s intention is that claims against banks and financial institutions are made before the deadline. Yet a recent court case could open the door to future payouts, according to lawyers.

Source: The Telegraph