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People could now claim commission on PPI even if they weren’t mis-sold a policy

A new court case changes the stakes – but we've only got a year left

Only one more year til those PPI cold calls stop – but in the meantime, you might be able to claim back not just on the policy but on the commission, too.

What it means: Recap - in the 1990s, banks started selling 'payment protection insurance', or PPI, alongside loans, credit cards and mortgages. It was supposed to cover your back if you fell ill or lost your job.

But banks often didn't explain how it actually worked, pretending it was compulsory or just adding it onto customers' bills without saying anything. Since then, in the biggest compensation exercise in UK financial history, millions have claimed back money for being mis-sold the policy.

Now, a couple has become the first to claim back not on the policy they were sold (which was one of the fine ones) but on the commission. A court ruled that people charged over 50% commission could claim that back too. This couple was charged 76%, and the average commission was 67%... so this sets an expensive precedent for a lot more commission claims to come.

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  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?