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Lender Can't Escape PPI Suit After Hiding Commission
Law360, London (March 12, 2021, 4:32 PM GMT) -- An appeals court has ruled that a customer didn't wait too long to sue a Citigroup unit over its marketing of payment protection insurance because the bank hid the fact that it would receive a huge commission from the sale for years.
Judge Vivien Rose, writing for the unanimous three-judge panel at the Court of Appeal on Thursday, rejected claims from Canada Square Operations Ltd. that a customer had run out of time to contest PPI payments on a policy provided by a unit of AXA and sold alongside a fixed-sum loan in 2006.