Statistics released by the FSA indicates that banks and financial institutions have paid compensation worth £5.5 billion to victims of mis-sold PPI policies over a span of 18 months ending in June 2012. Of course, not all claims have been settled and analysts expect this figure to rise to £10 billion before the issue will be fully settled. The intensity of the crisis can be understood from the fact that close to £615 million was paid to victims in the month of June 2012 alone.
£5.4 Billion – The Cost Of Compensating Victims Of Missold PPI policies
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