FCA to Set Spring 2018 Deadline For PPI Claims
Posted on 4 November 2015
The Financial Conduct Authority (FCA) is set to bring to an end on of Britain's biggest financial mis-selling scandals, that of the mis-selling of Payment Protection Insurance (PPI).
To date more than £20bn has been paid out to 10m customers with the final cost expected to exceed £26bn.
The FCA has proposed a final deadline of Spring 2018 for consumers in which to make their PPI complaints. The exact date is yet to be finalised but likely to be 2 years after new PPI rules come in to play in spring 2016
It is hoped that having an end date will bring the PPI issue to an orderly conclusion and help to rebuild trust in the retail financial sector.
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