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FSA to re-open 185,000 PPI cases

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Uploaded by on Sep 30, 2009

The Financial Services Authority has told lenders to re-open one hundred and eighty five thousand rejected complaints against payment protection insurance.

New rules from the City watchdog will mean renewed hope for consumers, who have seen around 60 per cent of all PPI complaints rejected by banks up until now.

The move comes after four out of five complaints to the Financial Ombudsman Service saw the decision overturned in the customer's favour.

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