Firms cannot pick and choose what they pay PPI compensation for

Citizens Advice has said banks and credit card companies need to put an end to the PPI scandal once and for all as new evidence finds firms may not be paying out for fees and charges occurred for mis-sold products.

Citizens Advice Chief Executive Gillian Guy said:

“Firms should not be short-changing people on their PPI payout. It's not for banks or credit card companies to pick and choose what they provide compensation for. If people have been mis-sold they deserve a full payout which covers all of their losses.

“This is yet more evidence of banks and card providers' utter failure to put things right for PPI customers.  This debacle has dragged on for years and is not letting up. The delay in addressing the issue of mis-sold PPI has meant up to £5 billion of people's compensation has ended up in the hands of claims management companies. Firms need to end this scandal once and for all by making sure all those who have been mis-sold get the money they deserve.”

Notes to editors:

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website .

  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.

  3. To find your local bureau in England and Wales, visit citizensadvice.org.uk . You can also get advice online at adviceguide.org.uk

  4. You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers

  5. Citizens Advice Bureaux in England and Wales advised 2.3 million clients on 5.4 million problems from October 2013 to September 2014. For full 2013/2014  service statistics see our quarterly publication Advice trends

  6. Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 3,000 service outlets across England and Wales.