PPI scandal became so big, because of the banks and their faulty marketing methods. They breached the trust of the consumers, and the lack of awareness among the consumers also helped in making PPI scandal as big as it became. The people in desperation to get their loan or credit card approved, signed anywhere and accepted every condition, which also included PPI, and this is what helped the banks to sell PPI rampantly.
- The lack of consumer awareness was one of the biggest reasons why PPI scandal became so big.
- The banks were making billions in profits and turned deaf ears to what was happening with the mis-selling of PPI.
- The banks and their agents used the desperation of the public when applying for loan or credit card or other lines of credit.
- Different types of excuses were used by the bank agents in order to sell PPI by force.
- It was said most of the time that buying PPI is essential to get the loan or credit card.
- Even when many people knew that PPI is being sold wrong fully, no one raised their voice.
PPI scandal is one of the biggest financial scandal in the country, and millions of people have been affected by it. If you are one of the victims as well, it is obvious and essential that you fight for the PPI refund and get it soon. If you do not know how much money you can get through the PPI refund, you can use the PPI calculator to get the approximate amount. It would help you stay motivated during the lengthy process of filing for PPI refund.
The PPI scandal is a clear example of why customers need to be more aware of how to deal with banks and not just blindly follow what they say, and instead, go to the roots of all the financial decisions you make to not suffer loss.