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02 August 2013

News - 70% say bankers should face charges for mis-selling


By SalesProEd @ 14:58 :: 855 Views :: 0 Comments :: Article Rating
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Some 70% of people believe that banking executives involved in the mis-selling of payment protection insurance (PPI) should face criminal charges, a new survey has revealed.

The study, commissioned by leading PPI claims company Forbes Douglas, also found that nearly two thirds of people (62%) want the Government to force banks to actively track down and compensate those who have been mis-sold PPI without needing their customers to complain first. The same percentage of those surveyed believe that the living relatives of deceased victims should receive the money that banks made from the controversial practice.

The research from Forbes Douglas showed that just 10% of people feel that the banking executives responsible for the mis-selling of PPI should not face criminal charges. The overwhelming majority, 70% of those surveyed, want to see charges brought against bank bosses.

Guy Verschuur, Managing Partner at Forbes Douglas, said: “The moral thing for Lloyds or any bank with a similar record to do is voluntarily to reopen all complaints they rejected in this period. If they don’t, the Financial Conduct Authority should insist upon it.

“It’s clear that people across the UK feel hoodwinked by banks over the PPI mis-selling scandal and literally thousands of individuals are coming forward with new complaints every week.

“Our research shows that the majority of people want the responsible parties to face serious consequences over what has happened and criminal charges are the order of the day, but ensuring that people who have been wronged by banks are adequately compensated is just as important.”

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