he PPI mis-selling scandal has produced welcome windfalls for the millions of consumers who have submitted claims and made multimillionaires out of the individuals who set up the biggest claims firms.

John Cronin, a banks analyst at Goodbody, describes these compensation shops as any lender or insurers nightmare because they often hire people whove written the loans or issued the policies in question, so they know where the gremlins are.

Some of the most successful claims outfits have just one or two shareholders raking in the profits as they drive what former Barclays chairman John McFarlane once called aflat-screen television buying spreeamong Britons.

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