Redress paid to customers who complained about the sale of payment protection insurance (PPI) has now reached £3bn, according to the FSA.
This follows publication of the latest monthly payout of £469 million being made to consumers in February 2012.
The total redress made to consumers covers payouts made since the beginning of 2011. The FSA collects data from 24 firms who accounted for 96% of all PPI complaints received in 2011.
The regulator has also released a pair of PPI redress graphs [pdf] showing monthly payouts from 2011 to consumers by these firms, alongside a cumulative pay out illustration.
Amounts awarded started to increase following the High Court's decision to reject the legal challenge to our PPI complaints-handling measures.
