Schwarzenegger returns in second FCA PPI campaign

The former actor and governor of California was the star of a previous advertising campaign for the regulator, and following its success, the FCA is launching new adverts on TV and radio to persuade more consumers to complain. The claims deadline is August 29, 2019.

The campaign’s focus will be on different products which may have had PPI sold alongside them, such as car finance, catalogue credit, credit cards, store cards and mortgages.

Latest figures show that more than 13 million people have been mis-sold PPI. In total, £29.6bn has been paid out in compensation.

Andrew Bailey, Chief Executive of the FCA said: “We know that PPI was sold on a huge variety of credit products throughout the 1990s and 2000s, but many people just don’t realise they had it.

“Since we launched our campaign the largest firms have told us that the proportion of people complaining to them directly has increased. This may in part be due to the improvements we asked firms to make to their complaint handling processes, including the introduction of online checking and complaining tools. This means that more customers get to keep more of the redress that they are due.”

The adverts will run on radio, social media, video on demand and outdoor advertising including bus stops. They will run alongside some of the existing adverts which first appeared in August 2017.

Since the campaign launched, the FCA has received nearly 17,000 calls to its helpline and nearly 900,000 people have visited its campaign website.

In all, the campaign has cost £42m, paid for by banks which mis-sold PPI.