Millions of victims of debt insurance mis-selling, who may not even realise they've been wronged, could be offered compensation, if lenders follow tough new rules laid down today.
Taxpayer-backed Lloyds Banking Group has axed the sale of controversial debt insurance across all its brands in a landmark move, MoneySavingExpert.com can reveal.
Many victims of debt insurance mis-selling will get a temporary extension to the time they have to complain to the Financial Ombudsman Service, if rejected by their lender.
Most consumers would happily pay in cash to get a discount, even if they knew it would encourage criminal tax evasion, research by MoneySavingExpert.com shows.