Which? blasts banks of PPI review

28 January 2011 at 20:19

Which? blasts banks of PPI reviewThe British Bankers' Association's (BBA) decision to contest new rules on payment protection insurance (PPI) complaints has been criticised by consumer watchdog Which?.

This week, a Judicial Review over the Financial Services Authority new rules on PPI, brought by the BBA, began at the High Court.

Under the rules, customers who have been mis-sold PPI in the past will be able to claim compensation from their bank.

Which? chief executive, Peter Vicary-Smith, commented: "This Judicial Review is further proof that the banks are shamelessly trying to duck out of giving millions of consumers the redress they're entitled to."

He is concerned customers will be put off making a PPI claim while the review is ongoing, but advices consumers to persist with complaints to their banks and, if necessary, to the Financial Ombudsman Service.

"The banks are still obliged to consider all PPI complaints, so there is no excuse for them to stall. Which? wants the banks to stick to the rules and carry on processing their customers' legitimate complaints," said Mr Vicary-Smith.

Posted by Tony MillerADNFCR-3006-ID-800372677-ADNFCR



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