The Citizens Advice Bureau has released in latest quarterly “Trends” report showing that enquiries about PPI compensation are still running at high levels.
The Citizens Advice Bureau produces a quarterly “Advice Trends” report that lists the volume of enquiries it receives over many different topics that results in advice being provided to members of the public. The report is used as a barometer by many government departments, regional agencies and organisations to identify issues which concern the public and where steps need to be taken to address those issues.
One of the most significant outcomes from the data compiled by the Citizens Advice Bureau was the launching of a “super complaint” to the Office of Fair Trading in September 2005. The super complaint led to new regulations for the selling of payment protection being introduced, and the recovery of compensation for those who had been mis-sold it.
However, ten years after the initial steps were taken to stop the mis-selling of payment protection insurance, the Citizens Advice Bureau is still receiving a significant number of enquiries about PPI compensation. Its latest “Advice Trends” report shows that in the first quarter of 2015/16 (April to June 2015) the charity received 1,180 enquiries about PPI compensation.
Although considerably less than the corresponding periods over the past three years (enquiries about PPI compensation topped 15,000 in the whole of 2013), the volume of enquiries shows that there are still plenty of customers who are unaware about their rights to claim PPI compensation. Gillian Guy – the Chief Executive of Citizens Advice – commented:
“The PPI scandal reached pandemic proportions. It is a real lesson for banks and the wider industry that they cannot get away with mistreating their customers. After dragging its feet when we first raised concern about PPI, the industry is paying the price for not taking action sooner. While regulation and banks´ approach to customer service has improved in recent years, the seismic failings around PPI should serve as a constant reminder that firms cannot get away with ripping off customers”.Read More