PPI compensation payments set to continue ‘for years’

No end in sight for UK’s biggest mis-selling scandal, says financial ombudsmanBanks will be paying compensation to people mis-sold payment protection insurance (PPI) for years to come, according to the UK’s chief financial ombudsman.The Financial Ombudsman Service receives 4,000 new PPI cases a week, and Caroline Wayman, the chief ombudsman, said “it will be years” before anyone can truly say Britain’s biggest ever financial mis-selling scandal is over. Continue reading...