Years ago, I was working for a high street bank and selling PPI.
I know that I didn't ever mis-sell a PPI policy. Every single one of my customers had all the T&Cs properly explained and understood exactly what they were buying. I even had occasions where customers asked for it and I told them it was inappropriate for them (i.e. there were exclusions which meant they would be unable to claim) Yes, we were under some pressure to sell these policies (as in any sales job) but never to sell them where it was inappropriate. I'm sure there will have been some who sold them regardless, but I didn't do it and I didn't work with anyone who did.
It's the same with the current fuss about Interest Rate Management products, which I was involved with several years later. At the time people were still smarting from the very high interest rates on the 1990s and they were falling over themselves to hedge their loans. They knew there was a chance they would end up paying more over the term of the loan, but they wanted the security of knowing what their monthly outgoings would be. The products were highly regulated, staff were well trained and (my) customers understood exactly what they were signing up for.
Of course where people were genuinely cheated they should be compensated, but why is recompense being given to everyone who bought a PPI policy? I know it's fashionable to bash the banks and, but we do need a strong financial services industry and as we know, the banks are not bottomless pits.
I no longer work in the industry so I have no vested interest now, but I do resent the implication that I must have been mis-seling/dishonest simply because I was selling what was, for most people a decent product offering the peace of mind they wanted. AIBU?