Lombard Finance Ppi
Lombard Finance and Payment Protection Insurance (PPI)
Lombard Finance, like many other financial institutions in the UK, was involved in the widespread selling of Payment Protection Insurance (PPI). PPI was marketed as a way to cover loan repayments if a borrower became unable to work due to illness, accident, or unemployment. It was frequently added to loans, credit cards, mortgages, and other forms of credit. However, the sale of PPI was often fraught with mis-selling practices, leading to a massive scandal that impacted millions of people and cost financial institutions billions in compensation.