So far the following companies have all been fined for mis-selling Payment Protection Insurance Plans:
- Swinton
- Alliance & Leicester Building Society
- Egg
- Liverpool Victoria
Recently Swinton were fined £770,000 for “inappropriate selling” of PPI and ordered to refund 480,000 customers.
The Financial Services Authority (FSA) came to an agreement with the Insurer on what action they must take late last week.
Swinton customers can therefore expect to receive some PPI compensation or a refund. Swinton is expected to write to all effected customers and let them know what will happen next.
Customers of other companies who believe they have also been mis-sold PPI insurance will have to seek the guidance of a qualified legal advisor.
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