Ex-banker calls PPI claims mad

 
Ben Southwood
Follow Ben
BANKS have given in to “mad” levels of compensation to victims of payment protection insurance (PPI) mis-selling, former HBOS retail risk chair Sir Charles Dunstone claimed yesterday.

Sir Charles said banks “surrendered” to the £11bn package set aside for victims, due to their unpopularity – going on to say that he didn’t think the policies were mis-sold in the way alleged by the Financial Services Authority, talking to the Parliamentary Commission on Banking Standards.