Is there anything banks havn't missold?

bigfreddiel

.....and is there any other industry that has missold as many products as banks

or insurance

or.....

fj

Archi_Bald

are you feeling under the weather today?

lvader

I keep looking but it doesn't seem I was ever missold anything. I will have to try harder to be ignorant because it seems to pay off!

opinions4u

There's 15 seconds of my life I'll never get back.

gadgetmind

I wasn't "missold" anything either because I like to understand what I'm buying.

And a fair proportion of those claiming they were "missold" various things are just lying chancers, which is why you see people claiming PPI misselling who never bought any, and even people who bought it and then claimed successfully on it.

Some people need to wise up and man up, big time.

bigadaj

The mis selling has come about, if you look charitably on those 'victims', as banks were seen to be responsible institutions who gave trusted advice on responsible savings and investment products. This obviously hasn't really been the case for several decades, and we now risk encouraging people along the compensation culture band wagon.

It amazes me how people are so susceptible to advertising but them I am a cynic, but we do need to move back to making people responsible for the,selves. It's never been easier to get knowledge and experience from the Internet from sites such as this, but we still seem to be in a them and us situation and anything that is against bankers in general is applauded.

badger09

Apparently I'm entitled to a refund of £000s of missold PPI - even though I've never bought any :cool:

Thrugelmir

bigfreddiel wrote: »

.....and is there any other industry that has missold as many products as banks

PPI wasn't just the domain the banks. Any business that provided finance jumped on the bandwagon. In particular the motor industry.

JohnRo

gadgetmind wrote: »

...lying chancers

what goes around..

redbuzzard

The various authorities, OFT, FSA/FCA, seem inclined to categorise any sort of selling as 'mis'.

I don't really disagree, except that it is the way the world has always worked and they are doing it retrospectively which is having some very perverse effects. I have limited sympathy for banks, but they subsidised low interest rates with PPI income; then found that even when they had sold apparently compliantly after 2005, the rules were changed and in effect anybody who has bought PPI since then has only to say they were mis-sold to get their money back. They will always fold if threatened with an FSO complaint, which costs them £500 immediately and then they will generally lose.

Mis-claiming is a bigger scandal than mis- selling.

The spotlight is now on retailer price reduction claims. Does anybody really believe those half price claims anyway?

I'm not expecting it to be possible to get a full refund on that knackered 5 year old sofa, or half price Tescbury champagne that I have already drunk, but stranger things have already happened.

gadgetmind

redbuzzard wrote: »

Mis-claiming is a bigger scandal than mis- selling.

Agreed 100%.