Loans and Finance

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Thursday, January 10, 2013

The PPI Ill Wind

The old saying "it's an ill wind that blows nobody any good" has been proved by some statistics released by the Financial Ombudsman Service (FOS).

The FOS, which deals with PPI claims when banks and their customers cannot agree a settlement, said it had increased the number of expected new cases for the 2011/2012 financial year to 375,000.

In view of this increased workload it has taken on 1,000 extra staff to deal with the backlog.

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