Mis-selling payments hit £379m
Filed under: News
The sum, which covers the month of November, is a rise from £268 million paid out in October, which had previously been the highest month recorded for redress since the figures began about a year ago.
The information comes from 16 firms which collectively had a 92% share of PPI complaints in the first half of 2011.
Consumers took out PPI to help repay their loans if they fell ill for a long period or became unemployed, but a widespread mis-selling scandal emerged. Some customers found they had taken out the policy without realising they did not have to have it or felt pressured into doing so.
The FSA has previously said that more than £1 billion was paid out in the first 10 months of 2011 to customers complaining about PPI.
© 2012 Press Association