Shefi Ben-Hutta
Editor at Coverager

FCA’s Latest: An Annoying Animatronic Head of Arnold Schwarzenegger

UK’s financial regulatory body, the Financial Conduct Authority (FCA), is reportedly spending £42.2M to urge people to make payment protection insurance (PPI) claims, if they were mis-sold coverage. Why? Because it has set a deadline – after August 29, 2019 peeps will not be able to submit new PPI complaints. Here’s a look at the FCA’s consumer communications campaign :

 

And not everyone is amused:

https://twitter.com/GuyAshton1/status/902867152750948352

https://twitter.com/23MrsC/status/902852891307900928

 

Did you know? To date, some £27.4B has been paid by the banks and building societies in compensation to those who were mis-sold the policies, which were mass-marketed largely between 1990 and 2010. And yet the FCA still says “many millions” may still be unaware that they are entitled to compensation.