Tens of thousands in line for refunds due to mis-selling by banks

More than €67m is to be refunded to tens of thousands of bank customers who were mis-sold financial products.

Tens of thousands in line for refunds due to mis-selling by banks

More than €67m is to be refunded to tens of thousands of bank customers who were mis-sold financial products.

The Central Bank has carried out a review across 11 banks who sold payment protection insurance (PPI) to people when taking out loans.

Out of 350,000 PPI products sold over the six years from 2007, more than 77,000 customers should receive refunds.

The Central Bank said it is now considering enforcement action against banks on foot of the investigation.

Director of consumer protection at the Central Bank Bernard Sheridan said: "We are going back to each of the firms and pointing out the shortcomings…We will continue to monitor this area, making sure firms are selling appropriate products."

more courts articles

Tens of thousands in line for refunds due to mis-selling by banks Ireland's top-paid lawyers: Jailed solicitor Cahir O'Higgins earned €200k from legal aid cases
Tens of thousands in line for refunds due to mis-selling by banks Love Island star Jack Fincham released on bail pending appeal
Invictus Games - Dusseldorf Prince Harry’s legal claim against Sun publisher to begin on Tuesday

More in this section

House construction and its wooden roof. Wooden housing. Timber frame house in North American downtown real estate. Finance department calls Government's housing commencement figures ‘volatile’ and uncertain
Military accident Cyclist in his 90s dies after collision with truck in Galway
ieExplains: What is the G20 and why is Ireland attending? ieExplains: What is the G20 and why is Ireland attending?
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited