The prospect of a deadline was originally proposed by the Financial Conduct Authority, and was welcomed by banks, who are eager to put a deadline on the claims.It has been discussed that the deadline will be announced this year, and clients will not be able to claim back any PPI which was mi-sold to them as of Spring 2019.To meet the rapidly and ever-changing offshore market demands, the Lister Alliance cluster was initiated and established in 2012.
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So, considering that banks have suggested they have provisional funding, and surely would want to do everything possible to recover their reputation after the scandal, what are the real reasons for encouraging the PPI deadline to be enforced?
One of the major reasons the banking industry is so avid for the PP refund to be enforced is because of the savings they will make by avoiding paying back these refunds.