Diripouf

Reports are coming out that banks have been making an incredible 900% profit on PPI (Personal Protection Insurance) - a product that many people have but don’t even know they have (and have therefore been mis-sold). This means banks have been adding policies to cover people for accident, sickness and unemloyment without telling them, or telling them but selling entirely inappropriate PPI. This is classic upselling for what seems like a low-cost, essential product (which it sometimes can be), but one the tinder box is lit, I reckon there will be another run on the banks this year - this time for PPI Claims from disgruntled consumers of loans and credit cards.