Insurance
PPI claim deadline could be pushed back from June 2019 proposal
The proposed timetable to set a deadline for new payment protection insurance (PPI) mis-selling claims could be set back from the original June 2019 proposal, giving consumers more time for the process.
According to its timetable published in August this year, the Financial Conduct Authority (FCA) was expected to set a rule for an “orderly conclusion” to the PPI mis-selling scandal by June 2017, with a final deadline for new claims set to come into effect two years later (June 2019).
This proposed timetable was due to be confirmed by the end of December this year, but the FCA today said that as it has received a large amount of feedback, “and given the importance of this matter”, it is “carefully considering the issues raised”.
The FCA will make a further announcement in the first quarter of next year.
Consumers who think they have been mis-sold PPI should continue complaining to the firms concerned and to the Financial Ombudsman Service. See YourMoney.com’s complete guide to claiming PPI.
