In the wake of the Libor scandal, a situation that is receiving a full-blown investigation from the government, the Guardian are calling for PPI mis-selling to receive the same treatment.
Counting the cost of aggressive mis-selling
Beyond the well documented sales practices that have led to so many successful PPI claims there is a whole host of other murky activity conducted by senior bank executives.
It is their practices that really need to be held to account as most salesman on the front-line were just following orders. The aggressive targets set for them may have encouraged more dubious selling tactics to be employed but the finger of blame should really point at the people setting the targets.
Collective mis-selling by the banks
It is believed that in a competitive industry the banks, building societies and insurers recognised that they needed to present a united front against the upcoming storm when the PPI scandal was really gathering pace.
They were prepared to work together to prepare collective responses to impending inquiries from both the media and regulators and took every step to avoid paying out any of the money which they have eventually been forced to.
Claim back the PPI refund you are owed
With the banks working so hard not to be helpful to their customers it is no surprise that people are so keen to bite back in the wake of the PPI scandal.
If you believe you may have been mis-sold PPI and want to make a claim please speak to one of our experts on 0800 849 8060 and get all the help you need.