FCA Swamped With PPI Claims In Final Days Before Deadline

Law360, London (August 22, 2019, 6:08 PM BST) -- The Financial Conduct Authority said Thursday it has seen a surge of inquiries about payment protection insurance claims in the weeks leading up to the looming deadline for complaints.

The regulator has seen a 420% increase in web traffic and a 269% increase in calls related to PPI claims in the two months leading up to the Aug. 29 deadline. Consumers who were missold payment protection insurance will not be able to get money back if they miss the deadline, the authority warned.

Nearly 1 in 5 consumers said they will make a last-minute decision about whether to submit a PPI...

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