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29th Aug 2019

History of Mis-sold PPI & Timeline

August 2017

August 2017
THE two-year countdown for claiming compensation for being mis-sold payment protection insurance started on Tuesday 29th August 2017 and the Financial Conduct Authority (FCA) has unveiled a new advertising campaign to make sure people file their claims before the deadline. The time bar clock is ticking.

March 2017

March 2017
The final deadline is announced by the Financial Conduct Authority (FCA) in an effort to draw a line under one of the banking industry's biggest scandals. The FCA also confirms that customers will have new grounds to complain if they were not made aware of commission being paid when they were sold PPI. This rule will also apply to claims that have previously been rejected.

August 2016

August 2016
FCA delays it's decision on PPI deadline pending further consultation on widening the scope to incorporate profit share (Plevin) and fee cap. Fee cap CMR update statement

May 2016

May 2016
The FCA decision on the whether PPI deadline will be imposed is expected to be announced.

October 2015

October 2015
Banks commence talks with the FCA to negotiate a deadline for PPI claims to bring what has become known as the biggest mis-selling financial scandal to an end.

November 2014

November 2014
In November 2014, the Supreme Court ruled in Plevin v Paragon Personal Finance Ltd (Plevin) that a failure to disclose to a client a large commission payment on a single premium PPI policy made the relationship between a lender and the borrower unfair under section 140A of the Consumer Credit Act 1974.

February 2013

February 2013
The Lloyds Banking Group is fined £4.3m for delays in compensation payments to up to 140,000 customers who were mis-sold payment protection insurance.

July 2012

July 2012
According to the Financial Ombudsman Service PPI becomes the one of most complained about financial product in banking history. Source

9 May 2011

9 May 2011
British Bankers' Association decides not to appeal against High Court ruling.

5 May 2011

5 May 2011
Lloyds Banking Group withdraws from legal challenge, saying it wants to "draw a line" under the affair.

April 2011

April 2011
High Court judge rules against banks.

January 2011

January 2011
High Court case begins.

October 2010

October 2010
Competition Commission confirms PPI cannot be sold at point of sale.

October 2010

October 2010
Banks seek judicial review of new measures, arguing they impose standards retrospectively.

September 2009

September 2009
FSA launches consultation paper outlining how complaints handling can be improved.

May 2009

FSA bans sales of single-premium PPI.

February 2009

FSA writes second letter to chief executives, asking them to stop selling single-premium PPI with loans.

January 2009

Competition Commission recommends those selling a loan should not sell PPI at same time. Barclays lodges objection.

October 2008

Alliance & Leicester fined £7m for mis-selling PPI.

September 2008

Which? publishes research into PPI sold with credit cards, showing that 1.3m people mistakenly believed they would be approved for credit if they took PPI.

July 2008

Financial Ombudsman Service asks FSA to investigate how firms are handling PPI complaints.

May 2008

Which? publishes research into PPI sold alongside loans. It shows up to 2m people have been sold a policy they will never be able to claim on.

April 2008

Competition Commission publishes two papers highlighting further problems in PPI market.

March 2008

FSA introduces comparative tables for PPI.

January 2008

FSA imposes more fines on PPI providers.

January 2008

Competition Commission publishes paper on profitability of PPI.

September 2007

FSA fines Egg, Liverpool Victoria and Land of Leather over PPI failings.

February 2007

OFT makes formal referral of PPI to the Competition Commission

January/February 2007

FSA imposes fines on major PPI providers for not treating customers fairly.

October 2006

OFT issues a report on PPI, saying it intends to refer issues to Competition Commission.

October 2006

FSA issues report finding more evidence of poor compliance: 24 companies enter “enforcement procedures” for PPI failings.

September/October 2006

FSA fines smaller firms for mis-selling PPI.

November 2005

FSA issues its first report on PPI. Identifies poor selling practices and lack of compliance controls in PPI market following company visits and mystery shopping exercises. Writes to all chief executives highlighting key findings.

September 2005

Citizens Advice publishes Protection Racket report identifying problems in PPI market. It issues “Super Complaint” to the Office of Fair Trading over PPI sales.

January 2005

FSA takes on the regulation of the sale of general insurance. It says PPI review one of its priorities that year.


PPI problems highlighted in The Daily Telegraph and The Sunday Telegraph.


Issue of PPI being a poor-value product because of expense and exclusions first raised in Which? magazine.

PPI Deadline



The PPI deadline has now passed and we are no longer accepting any new PPI claims.

Please be assured, if you have already enquired about a PPI Claim with Money Management Team Limited we are processing your enquiry and will update you as your claim progresses. If you need an update in the meantime, please contact us.

You can pursue your own claim direct to the firm to obtain a refund. You can do this for yourself at no cost and then use the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) which are both FREE.

£Millions Remain Unclaimed!

Important Information

Please Note: Your PPI Claim starts with a Free PPI Check service. Our PPI Claim fee of 20% + VAT (so 24% of the total redress offered by your lender) is payable if your claim is successful. That means if we don’t recover you anything, you don’t pay us a penny.

You can submit a claim directly to the lender yourself for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free to review your case, providing it falls within their remit and you have approached your lender first.


PPIClaims.com is a trading style of Money Management Team Ltd. Money Management Team is a member of the Professional Financial Claims Association (PFCA).
We comply with the PFCA Code of Practice


Deceased Persons

If a PPI policyholder is deceased, any money owed to them becomes part of their estate, so whoever inherits the estate is entitled to make a PPI reclaim. This can be done by an executor or the person appointed to carry out their wishes after death. We automatically assume that reclaiming mis-sold Payment Protection Insurance (PPI) for deceased parents and grandparents may not be possible due to the passage of time.

However, the truth of the matter is it is quite straight forward to make a successful claim for mis-sold PPI for someone who is deceased.

To reclaim mis-sold PPI start with a FREE PPI check** with us today.

Armed Forces Personnel & PPI

Armed Forces PPI

Armed forces personnel have cover for sickness, accident & unemployment built into their salaries. This protection means that if a member of the armed forces was unable to work due to one of these reasons, they would still be able to meet any mortgage, loan or credit card repayments they had. So any PPI insurance policies would NOT have been appropriate. To find out if you can reclaim for mis-sold PPI, start a FREE PPI check** with us today.

UK Expats & Non-British Nationals

Expat PPI Claim

Did you have a loan, credit card or mortgage in the UK between 1988 and 2014? As a British Expat or Non-UK National who has lived in the UK for a long period, it is likely that finances were arranged while you were a resident in Britain. This may include loans, mortgages or credit cards and, even though you are no longer living in the country you can still claim mis-sold PPI. You could be eligible to claim for mis-sold PPI!

Public Sector Workers PPI Claim

Public Sector PPI

For many public sector workers, the Payment Protection Insurance (PPI) they were sold was useless. However, for some of these workers it would not have been useless, depending on the policy type and cover it provided them with.

If you had PPI and it provided you with extra cover that hadn’t been included in your employment contract, then it may have been useful for you.

Business PPI Check and Claims

Business PPI Claims - Mis-sold Payment Protection Insurance

Business PPI - Like most consumer PPI policies, business PPI also know as commercial PPI was sold alongside secured and unsecured loans, overdrafts, credit cards and mortgages. Business Loan Repayment Insurance is a type of insurance policy sold alongside commercial loans, including Fixed Rate Loans, Variable Rate Loans and Treasury Loans. If you had a commercial or business loan between 1988 and 2014 you may be eligible for a PPI refund. Start a Free Business PPI Check and find out if you have mis-sold PPI to reclaim.