PPI or Payment Protection Insurance that was massively mis sold by banks during a 20 year period should be fully refunded to all customers who were mis sold says the Financial Ombudsman. Payment Protection Insurance (PPI) has been a widely controversial product in every sense, firstly it netted the banks a reported £40 Billion in profit, millions of policies should not have been sold to particular customers and now many banks are rejecting millions of valid claims just to not pay out on policies. (more…)