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Citizens Advice says banks ‘have only themselves to blame’ for PPI fines

Citizens Advice has said the banking industry must make sure customers affected by the PPI misselling scandal are properly compensated. It comes as the FCA fines Lloyds Bank a record £117 million for mishandling PPI complaints between March and October 2012.

Gillian Guy, chief executive of Citizens Advice, said:

“Banks have only themselves to blame for PPI fines.

“It is almost a decade since the Citizens Advice super-complaint exposed the extent of the PPI problem. In the past 12 months people came to us with more than 6,800 PPI issues.

“Lloyds and other banks caught up in the PPI saga must ensure that money is given back to customers who have been so badly let down.

“It is positive that since the mishandling Lloyds has made progress on how it deals with complaints. The bank must now make sure consumers get fair outcomes.

"This ruling should serve as a warning to banks that complaints must be taken seriously and dealt with promptly.”

Notes to editors

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website.
  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.
  3. To get advice online or find your local bureau in England and Wales, visit www.citizensadvice.org.uk.
  4. You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers
  5. Citizens Advice Bureaux in England and Wales advised 2.1 million clients on 6.6 million problems from April 2012 to March 2013. For full 2012/2013 service statistics see our quarterly publication Advice trends
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