The Central Bank has ordered 7 lenders to investigate whether their customers were mis-sold payment protection insurance.
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6 of them have been named as Bank of Ireland, AIB, EBS, Ulster Bank, Permanent TSB and GE money.
Each of the institutions is to begin contacting customers about the issue in the coming weeks.
Payment protection insurance is used to make repayments on a loan or a debt if someone can’t pay because they’ve lost their job, they’re sick or they die.
More than 340 thousand policies were sold in this country over the last five years.
