Revealed: The PPI Claims Scandal Facts You'll Scarcely Believe

The Numbers Behind the PPI Scandal - Despite the monumental lack of trust it's created and the fact that banks put huge profits before customer needs; the Mis sold PPI scandal is proving to be a very timely economic stimulus package. The PPI compensation scheme is giving people money and creating jobs at a time when both are greatly needed, but what are the real facts and figures behind the biggest banking scandal in recent years? Let's take a look. 4-5 million Number of prople that have made a Pi daim More than 2.5 million people have already been paid PPI compensation C13 The amt The a t The at The aea tefond eeived y itin of i Anoust decals in the pot Estiuted al and A tated burk pays to de Pinanal Ombudanan Sevice ifa daim Cele woth PPI police wte betwe thit companis ta mude fae Chaed on a i refemed and Nled for laving 14000o piuate 2.000 3,000 250,000 The number of PPI claims received every day by FOS Number of extra staff hired by Financial Ombudsman to handle PPI claims The backlog of outstanding PPI claims at the FOS May 2014 - The potential deadline for making PPI claims currently being considered May 25% of claims made to Lloyds Since May 2011 are from people who never hada PPI policy UK BANKS UK banks and lenders have hired around 6,000 extra staf to handle the influx of PPI claims TOP THREE COMPENSATION SCHEMES PPI Claims 3 Criminal Miners £ybn paid out in z years, projected total bill: £2sbn Compensation scheme L4.ibn paid out over 13 Injuries Compensation Scheme (CICA): £3bn awarded years over 49 yearS Consumer group Which? says that some bank staff were on 87% commission for selling PPI. 87% 800.000- The number of PPl texts one company said it sends out each day 2,200 The number of new PPI claims companies authorised by The Ministry of Justice in the last 5 years. 30,000 The number of complaints received by The Information Commissioner's Office about spam PPI texts in the six months to December 2012. E4.3m E3.000 •