Trade body warns against using claims management companies
The British Bankers’ Association (BBA) has said the increase in Payment Protection Insurance (PPI) claims was “not unexpected” and warned consumers against using claims management companies to make a claim.
The figures, released by the Financial Services Authority (FSA) on 30 August, revealed that payments for PPI mis-selling claims had increased from £29m in January to £65m in June following the dismissal of a legal challenge by the BBA against the FSA.
In a statement the BBA said: "The BBA's members are fully committed to handling PPI complaints as speedily as possible in accordance with the FSA's policy statement. This follows the judgment passed down by the High Court on 20th April 2011.
"The
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