What’s changed about claiming PPI?
After a 2017 ruling, if more than 50% of your PPI's cost was made up by commission for the lender, and no one explained this to you at the time, then you’re due back the extra money above the 50% threshold, so long as your PPI was active at some point since 2008.In the press, this development has been called the ‘Plevin’ ruling.
Much of the updated guidance from the FCA focuses on what was explained to the customer when it was sold. Specifically, firms are being asked to take a closer look at how and when commission was discussed.