When did PPI selling commence?

Eritreas_arm

Had a search but couldn't find the answer. I've seen reference to PPI mis-selling in the '90's. Is there any evidence that it was also happening in the '80's - ie. is it worth trying to dig out old paperwork from around that time or is the probability negligible or zero of it being applied at this time?

-taff

Misselling can happen any time, but your complaint will probably now depend on you having your own evidence and extensive documentation, along with verifiable reasons for missale.
Also, dependiong on who you think missold it to you, they may not have to consider your complaint before a certain time.

~Brock~

I remember single premium PPI being available as an option on loans from the TSB back in 1983.

If people wanted it, they took it. If they didn't, they didn't. It was remarkably simple!

dunstonh

I've seen reference to PPI mis-selling in the '90's. Is there any evidence that it was also happening in the '80's

Insurance regulation didnt start until January 2005. Financial services regulation didnt start until April 1988. The FSA came into existence in Dec 2001. The PPI issue is largely an FSA one. Previous regulators didnt have a problem with it. However, the FSA decided to retrospectively apply the rules.

So, its difficult to say that the pre 2001 cases were actually mis-sold based on rules that were in place at the time. You could go back to the 80s to see sales of PPI. Of course that doesnt mean they were mis-sold.

[Deleted User]

Eritreas_arm wrote: »

Is there any evidence that it was also happening in the '80's - ie. is it worth trying to dig out old paperwork from around that time

You'd need very comprehensive documentation in order to pursue a claim from thirty years ago and, even then, the lender would certainly time-barr any complaint.