£3.7bn paid out on PPI since launch of FCA's Arnold Schwarzenegger campaign

Arnold Schwarzenegger
Neon Tommy

The Financial Conduct Authority (FCA) has announced that £3.7bn has been paid out in compensation to customers since the launch of its Arnold Schwarzenegger-fronted campaign on PPI (Payment Protection Insurance) ten months ago.

Last summer, the regulator created a campaign using an animatronic model of Schwarzenegger’s head urging people to check if they were owed compensation for PPI cover before the claim deadline of 29 August 2019.

A report from the watchdog, issued today (24 October), stated

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