Arnold Schwarzenegger is the face of a campaign warning consumers they only have two years to make a PPI complaint.
The Financial Standards Authority (FCA) hopes the campaign will ‘cut through the noise’ surrounding PPI to encourage people to make a PPI claim before the deadline on 29 August 2019.
The advert launched yesterday features an animatronic model of Schwarzenegger’s head which is seen urging people to make a decision about making a PPI complaint.
The £42m advertising campaign will feature on TV, online and on outdoor advertising across the UK over the next two years and is being paid for by the financial services providers who have had the most PPI complaints.
Andrew Bailey, Chief Executive of the FCA said: “Our campaign aims to cut through the noise on PPI. We want to encourage people to decide whether to find out if they had PPI and whether to complain or not.
Our message, and Arnie’s, is ‘do it now’ and I urge people to make a decision before the deadline on 29 August 2019.’
The campaign was launched as the regulator announced that customers could be entitled to compensation even if they were not mis-sold PPI.
If a customer had previously complained about PPI, and had the complaint rejected, they may be entitled to compensation if the provider earned a high level of commission from selling PPI.