The Financial Conduct Authority (FCA) is to consult on introducing a deadline for bringing complaints about payment protection insurance (PPI) after its research showed a 'significant number' of claims brought did not include a PPI sale.
The regulator wants to introduce a deadline for two years after the rule change comes in from when consumers lose the right to have their claims assessed by firms or the ombudsman service. The regulator thinks the deadline will likely fall on some time after summer 2018. As well as a firm stop on complaints, the FCA will start a consumer education campaign urging people to bring their complaint. Further details and reasons behind the FCA's proposals will be published in a consultation paper before the end of the year. The FCA will also announce at a later date how this will be fund...
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