Which? Says PPI redress totalled £1.9 billion in 2011

Redress paid to customers complaining about the sale of payment protection insurance totalled nearly £2 billion in 2011, according to Which?. The consumer organisation pointed to the release of monthly figures by the Financial Services Authority (FSA) which highlighted that the payment protection insurance (PPI) redress paid back to customers by companies was £441 million in December 2011, the largest monthly pay-out yet, giving an annual total of £1.9 billion.