Eric Daniels: 50% of Lloyds PPI claims were bogus

Speaking before the Parliamentary Commission on Banking Standards he said that in the early days soon after banks lost their landmark court case which opened the door for customers to make claims over PPI mis-selling, it was not possible to sort through claims that were legit and those that were not, according to the Telegraph. "I have heard that a fair amount of bogus claims have been paid out as the number of them was so overwhelming, staff could not tell if a claim was bogus or not in the timeframe set by the ombudsman.," he said. "So a fair amount of claims paid out were not legit...