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Barrett urges people to check bank records

Castlebar Labour Party town councillor Harry Barrett has urged people to check their bank records in the wake of The Central Bank report, issued recently, that named six banks that it is investigating for wrongly selling insurance products to thousands of customers. The banks have been ordered to carry out independent reviews of the sales of the payment protection insurance to find out the scale of the problem, and pay restitution. Payment protection insurance or PPI repays a loan or credit card if a person becomes sick or unemployed. Since August 2007, more than 300,000 PPI policies were sold in Ireland.

 

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