PPI Advertising Campaign Includes Its Second Episode

April 13, 2018
by admin in PPI News

Arnold Scwharzenegger’s voice was used for his animatronic, tank-tread walking head urging indecisive customers in a supermarket to “do it now” and decide.

His dialogue is an allegory to the massive UK PPI scandal set to end on August 29, 2019. Recently, it had added a second episode.

The bizarre, disembodied head is seen crawling in a bus telling people to “do it now” and make a claim for their mis-sold insurance policy.

PPI is the United Kingdom’s biggest financial scandal. It has accumulated more than £40 billion in payments made by ineligible customers.

Banks had refunded over £29 billion in the last few years.

The Financial Conduct Authority continues to produce and air its M&C Saatchi-produced commercials until the PPI claims deadline.

Funding for the Schwarzenegger-backed commercials came from FCA-imposed bank levies, which amounted to £42.2 million in total.

UK’s banks continue to struggle with payment protection insurance repayments with most banks having reached a total of £5 billion repaying mis-sold consumers.

Lloyds Banking Group takes almost half the PPI scandal’s total with over £19 billion earmarked and half of the amount repaid to consumers.

According to the FCA, consumers will no longer receive its support if they attempt to make a PPI claim after the deadline.