Re: Latest updates on PPI Judicial Review and claims on hold
What I don't get is the relationship between paying compensation and firms going bust, surely where the bank was merely a front for an insurance firm to sell their product through the bank and where the bank was then paid a commission, then the bank did the mis-selling not the insurance company?
If the banks were to pay out compensation then increase bank charges for everyone to maintain profitability then that does beg the question whether that is a legitemate thing for them to do, that just seems trite that the can recoup the compensation by getting more money off everyone regardless of whethere they even had a claim.
It would also be seen as a 'cartell' move if they all did it at the same time,
What I don't get is the relationship between paying compensation and firms going bust, surely where the bank was merely a front for an insurance firm to sell their product through the bank and where the bank was then paid a commission, then the bank did the mis-selling not the insurance company?
If the banks were to pay out compensation then increase bank charges for everyone to maintain profitability then that does beg the question whether that is a legitemate thing for them to do, that just seems trite that the can recoup the compensation by getting more money off everyone regardless of whethere they even had a claim.
It would also be seen as a 'cartell' move if they all did it at the same time,
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