Banks’ PPI bill rises

VictimS of mis-selling could be in line for billions of pounds more in ppi compensation after a court ruling.

paragon personal Finance was ordered to repay all the commission fees it had earned from christopher and Joanne Doran when it sold the couple a ppi policy. Until now only commission deemed ‘excessive’ had to be repaid. the £ 17,345 award at manchester county court could force banks to repay another £18bn to claimants, lawyers suggested. However, any efforts to force banks to pay out more are likely to be bogged down for years in legal proceedings.