Citizens Advice has called on banks to shift their focus to help saving customers money, instead of mis-selling them unnecessary products, as a £1.3 billion compensation pot for mis-selling of CPP protection.
Citizens Advice Chief Executive Gillian Guy said:
“Yet again banks have shown a complete disregard for their customers by selling them products they did not need. Banks have clearly have not learnt from the Payment Protection Insurance pandemic. It's a scandalous business model to make money by misleading customers.
”With households under such a financial squeeze banks should look at ways to save their customers money - not siphoning off cash for unnecessary products.
“We’re urging anyone who thinks they have been mis-sold credit card protection to get their money back by making a claim for compensation.“
You do not need to use a claims management company to make a claim for the compensation.