Government and banks to hold summit today on ‘predatory’ PPI claims companies
Justice secretary Chris Grayling and Ministry of Justice officials are meeting today with British Bankers’ Association (BBA) chief executive Anthony Browne to discuss the conduct of “aggressive” payment protection insurance (PPI) claims firms.
According to telegraph.co.uk, the BBA has said there needs to be a clampdown on companies that bombard members of the public with text messages and phone calls with the promise of compensation – often those who have never had a PPI policy.
It also says that these claims management companies (CMCs) put too much pressure on claimants to continue with the compensation process even after they have said they want to withdraw.
Banks also complain that CMCs “regularly use [banks’] logos and branding in their adverts”, which they say misleads people into believing the banks are working with the claims firms.
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