Ros reminds me that, two years or so ago, she received a phone call from a financial institution that shall remain nameless, offering her protection against identity theft. At the time, she questioned its necessity and rejected their 'generous' offer.
And now, it turns out, it was fraudulent. The cover merely duplicated that already offered in the event of theft from a bank account. The expected cost of compensation? £1.5 billion.
A dozen or so banks have signed up to the proposed settlement scheme, evidence of the scale of the mis-selling. And this leads one to ask the question, "At what point are bank executives going to be held personally liable for their misconduct?".
This mis-selling scandal overlaps the PPI debacle, and it seems obvious to me that, having discovered the scale of that, a functioning management board of a major financial institution might reasonably ask the question, "Is there anything else that we're selling that is suspect?". There is, so far, no evidence that I'm aware of that says that they did.
As a start, Companies House should be considering action to bar some, or all, of those responsible from acting as directors in the future, and then we should start prosecuting people for fraud if provable.
Clearly, these people do not learn, and perhaps five years of having to compensate us every time we get a stupid robocall or annoying text from one of those leach-like 'compensation factories' might be justice for the rest of us.
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