Arnie sends bill for PPI to £30bn

VICTIMS sold useless credit card insurance by banks have received nearly £30bn in compensation.

More than 12m people were fooled into buying payment protection insurance they did not need. Another £366.9m was given out in December, says the Financial Conduct Authority. It takes the 2017 total to £3.4bn. The big banks have seen a jump in complaints since an advertising campaign featuring actor Arnold Schwarzenegger was launched last year by the City watchdog.