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The banks’ £4bn protection racket

After a record fine for an ‘extortionate’ loan protection scheme, customers are urged to claim back what they are owed.

A new scandal is brewing in the personal finance industry that could dwarf the revolt against overdraft charges which has tarnished the reputation of the banks and won customer refunds of £1bn. As the Office of Fair Trading begins a court case against those bank charges, thousands of customers are seeking, and winning, refunds of premiums for payment protection insurance (PPI).

Posted on Thu 17 Jan 2008