Original Artice From 2014 – Updated in 2017 and 2019 to take account of legislation changes. The issue of mis-sold payment protection insurance (PPI) was very widespread in the UK and it looks like the banks also tried to make easy profits from it here in Ireland. Note: The UK Financial Conduct Authority set a […]
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PPI
Time Limit Extended on Financial Complaints
Up until last month – if anyone wanted to complain to the Financial Services Ombudsman (FSO) about the conduct of a financial institution – there was a strict 6 year time limit in place. If someone had a problem with things like Insurance , PPI or a Mortgages , if the product was sold to […]
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PPI Refunds of €67 Million.
The Central Bank has reported that the review of the misselling of Payment Protection Insurance is now complete – and refunds of €67.4 Million have been given back to 77,000 customers. That is an average refund of €875 per policy. There are still 6000 customers who are due a refund – but they have not […]
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PPI Refunds in Ireland – at least €50 Million to be paid back
Here in Ireland it became obvious to the regulator in recent years that there had been fairly widepspread mis-selling of Payment Protection Insurance . (As there was in the UK) Back in July 2013 the Central Bank instructed the firms involved to carry out a review of their PPI sales since 2007.. Read more about […]
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Six Year Limit on PPI Complaints Needs to Be Changed
Concern about the mis-selling of Payment Protection Insurance and other financial products is increasing. The number of complaints to the Financial Services Ombudsman has risen dramatically in the past year – but they are still on a much smaller scale than in the UK. In the last 6 months of 2012 the Financial Services Ombudsman […]
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