Many banks and finance companies have already been fined for mis-selling PPI policies and treating customers unfairly. If your PPI seller is one of them you may well be able to make a claim using the attached letter.
Here’s an up to date list of companies that have been penalised so far, but it’s worth doing your own research to check if your bank isn’t listed.
- Alliance and Leicester received the biggest of all fines for mi-selling PPI through their telesales in 2007. The company received a record fine of £7,000,000 in 2008.
- Liverpool and Victoria were fined £840,000 in 2008 for serious mis-selling of PPI on telephone loans in 2005/06/07.
- Land of Leather was fined in excess of £200,000 for allowing it’s staff to sell PPI without adequate training or supervision.
- Capital One were fined £175,000 for failing to provide customers with important PPI information about loans and credit cards.
- Loans.co.uk was fined over £400,000 for not have suitable systems in place to prevent mis-selling of PPI.
- Redcats were fined £270,000 for not having suitable systems in place to prevent PPI mis-selling.
- Swinton was fined over £750,000 for unacceptably high non-compliant sales on motor and home insurance cover PPI.