Employment group Manpower has said that more than 20,000 new jobs have been created simply to deal with PPI complaints. What’s more, this figure only takes into account the jobs that have been created at banks and lenders, and there are likely to be considerably more than this working within claims companies. While the new jobs are likely to be short term, unless there is another major financial scandal, they helped boost the final outlook of the quarterly review that is put together by Manpower.
The number of complaints that the financial ombudsman is receiving has increased even further and the watchdog is now fielding an average of 2,000 calls every single day. The PPI scandal certainly doesn’t look like it is set to break and there are more people than ever complaining both to financial organisations and to the ombudsman. What was initially estimated to cost banks around £4bn has already surpassed that figure and major lenders have set aside around £14bn in funds to pay reclaims. These figures continue to increase as Continue reading