Thousands to get refunds on PPI policies

Thousands of Irish consumers look set to receive refunds from financial institutions in relation to mis-sold payment protection insurance policies.

18th May, 2013

Thousands of Irish consumers look set to receive refunds from financial institutions in relation to mis-sold payment protection insurance (PPI) policies, after a Central Bank probe revealed widespread poor sales practices in the area.

PPI policies cover loan repayments in the event of certain circumstances, such as an accident, illness or redundancy, but an ongoing Central Bank investigation has raised major concerns about the way these policies were sold over a five-year period.

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