Consumers whose mortgage payment protection insurance (MPPI) costs have increased this year will get an automatic refund, following regulatory pressure.
The shocking scale of consumer mistreatment is uncovered today as the lid is lifted on banks and other financial firms that brush off genuine complaints in the hope they will vanish.
Consumers won't know for another two months whether an appeal against one of the proposed clampdowns on payment protection insurance (PPI) sales has been successful.
Just 6% of consumers whose complaint is rejected by their bank or financial provider take their case to the free Ombudsman service, despite them having a high chance of victory via that route.
4 September 2009
Suggest a story
Got a money-related news story that affects you? Email us