Banks Could Pay Back Over 4 Billion in PPI Fiasco 3089635636924505613-blid-1669099720027191120

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Refunds for Payment Protection Insurance on loans, mortgages or credit could cost banks well over £4 billion after it was revealed that most customers were a victim of a unlawful sale. It had previously been estimated that up to £1.2 billion could be claimed by customers who attempted to reclaim payments but this new figure includes the added amount of customers who the banks will be required to give refunds to.