PPI victories for consumers may have a wider significance for financial mis-selling claims say Jonathan Butters & Kevin Durkin
Two recent Court of Appeal judgments have found in favour of consumers in respect of payment protection insurance (PPI) mis-selling claims. The cases of Saville v Central Capital Limited [2014] EWCA Civ 337, [2014] All ER (D) 216 (Mar) and Figurasin v Central Capital [2014] EWCA Civ 504, [2014] All ER (D) 178 (Apr) have a wider significance for financial mis-selling claims generally. Along with Rubenstein v HSBC [2013] 1 All ER (Comm) 915, [2013] 1 All ER (Comm) 915 they demonstrate that the Court of Appeal is willing to give full effect to the consumer protection purpose underlying the business standards section of the Financial Conduct Authority (FCA) handbook.
The claimants in each case, both married couples, were looking to refinance their existing indebtedness and sought the services of a broker, Central Capital Limited (Central) who brokered the sale of a loan together with a payment protection insurance policy which was paid for by a lump sum premium,
