Counting the cost, as PPI claims deadline passes

With the 29 August deadline having elapsed for consumers to make claims about payment protection insurance, one of the largest mis-selling scandals globally has stuttered into its final throes. As many as 64 million of the controversial policies were sold, mostly between 1990 and 2010, but some as far back as the 1970s. [1] Neasa MacErlean explores the fiasco and ongoing issues.

Problems with PPI were raised in the public arena more than 20 years ago, yet it is only now that the scandal has entered its concluding phase. About 64 million policies were sold, some £36 billion has been paid out so far in compensation. And the total cost in redress and administration is put at about £49 billion. [2]