Ireland’s Central Bank has fined Allied Irish Banks over 2 million Euros for payment protection insurance (PPI) breaches. Insisting they are to compensate all customers affected; Allied Irish Bank have reimbursed most claimants.
According to reports, many customers were repeatedly charged for PPI despite opting out of the policy when they purchased their credit cards. With many customers unaware they were even paying for their policy. Allied Irish Banks failure to resolve the issue immediately and continuing delays in processing could lead to more customers being entitled to make PPI claims.