Banks and consumer groups are to meet on Monday with a view to "restoring trust" in the process of making payment protection insurance (PPI) claims direct to the provider.
People who believe they were mis-sold PPI can apply for compensation by writing to providers themselves. Any subsequent payout is free. But many use claims management companies who then take a cut of any payout. Monday's summit will be hosted by Which? and Money Saving Expert. A separate meeting will also be arranged with representatives of claims management companies. Brian Cole, managing director of Capital One, who will attend the summit, said: "Currently the vast majority of the complaints we receive about PPI come from claims management companies, and over 22% of these comp...
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