FCA makes final push for PPI claims

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FCA makes final push for PPI claims

The Financial Conduct Authority is urging consumers to bring their complaints about PPI before the August deadline.

The FCA set a deadline of 29 August 2019 for bringing complaints when it launched a consumer communications campaign to raise awareness of the deadline and surrounding issues back in 2017.

Figures released this week (June 17) showed between August 2017 and May 2019, the regulator’s PPI website had been accessed by more than 3.9m users.

There were 44,448 calls made to the PPI contact centre, 3,720 emails and 7,480 web conversations, leading to a total of £35.3bn being paid to consumers who complained about the way they were sold PPI.

The FCA has enlisted a panel of high-profile ambassadors to provide support during the final months of the campaign, to ensure that every consumer has the opportunity to make a decision on whether to complain about PPI.

In addition, a series of advertisements featuring the animatronic head of Arnold Schwarzenegger will run nationwide across the summer to boost PPI awareness and to call attention to the pressing deadline.

Emma Stranack, FCA’s PPI deadline campaign lead, said: "With just over 10 weeks to go, time is running out to claim back money for PPI.

"Simply put, if you haven’t complained to your provider by 29 August 2019, you won’t be able to claim money back for PPI – so you should make your decision as soon as possible.

"Checking if you had PPI is simple and free. Don’t worry about paperwork, you only need your date of birth and relevant previous addresses”"

Personal finance expert and consumer champion Sarah Pennels said: "I am working with the FCA to help remind consumers that now is the time to decide whether or not to make a complaint.

"The PPI deadline is fast approaching - so now is the time to contact your bank, loan or card company as soon as possible. You can complain to them directly for free and you can use the FCA’s website for more information."

Eveline Vouillemin is an intern at FTAdviser