FCA finalise plans to place a deadline on PPI complaints

The Financial Conduct Authority has confirmed that it will introduce a deadline for making new payment protection insurance (PPI) complaints.

August 2019 deadline for making a new PPI complaint

The final deadline for making a new PPI complaint will be 29 August 2019. To encourage consumers to decide whether to act about PPI before the deadline, the FCA will run a two-year consumer communications campaign, which will be launched in August 2017. 

Andrew Bailey, Chief Executive of the FCA said:

“Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a complaint.

“We have carefully considered the feedback we received and we still believe that introducing a deadline for PPI complaints and a communications campaign warning of the deadline will benefit consumers.”

For futher information and updates, visit the FCA website