Payment Protection Insurance (PPI) complainants received a total of £215m in redress in the first half of 2011, the Financial Services Authority (FSA) has revealed.
A total of 16 firms paid out, representing 92% of PPI complaints received in the first half of 2011. In May and June alone, following the dismissal of the banking industry's legal challenge to the FSA and the Financial Ombudsman Service, £102m was paid out. The monthly totals are: • January - £29m • February - £31m • March - £28m • April - £25m • May - £37m • June - £65m The figures include the value of ex-gratia payments made to complainants and cases settled by the Ombudsman. Margaret Cole, interim managing director of the FSA's conduct business unit, said: "The treatmen...
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