How PPI Scandals Came To Existence 2741009234941582512-blid-8690450236713922734

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Sometimes things created for good start harming the system themselves. The same is happening with Payment Protection Insurance policies. The business of selling PPI has become quite lucrative for some banks and financial institutions. PPIs were created to cover the monthly repayments of loans and mortgages for people who fell short of income to pay their premiums. However, they soon became expensive, ineffective, mis-sold and inefficient because of the numerous scams. In this article we'll try to find out the history of PPI scams and how they became so common in the marketplace.