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Financial Conduct Authority (FCA) finalising plans for a mass redress programme


AnnoyedByDCAs
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Great news I just noticed over on MSE that doesn't seem to have been posted here.

 

http://www.moneysavingexpert.com/news/banking/2013/04/card-protection-and-id-protection-mis-selling-now-banks-will-have-to-refund-victims

 

The gist of this is that the FCA have now decided that the financial institutions who got people signed up for CPP are also responsible for mis-selling and will have to refund their customers.

 

The article says "Those mis-sold are entitled to whatever they paid out." but doesn't mention statutory interest or any interest that may have been charged on what was paid out. Does anyone know how that works?

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