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The scandal of the mis-selling of Personal Protection Insurance is well known as one of the worst financial scandals in history.
Some 12 million people have received £22.5 billion in compensation from unnecessary Payment Protection Insurance (PPI) schemes sold to gullible people.
And to compound it a National Audit Office report (NAO) last week highlighted how cold calling claims management companies had ripped off £3.8 billion and £5 billion of the compensation paid for work which could be done by claimants for free.
What might also shock people – particularly in the current debate over whether we should quit the European Union – is the revelation by the NAO that it could not complete the investigation to its satisfaction because a European Union directive banned Parliament from getting confidential information. I have written about this in this week’s Tribune magazine.
The situation is this. As well…
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