By Jonathan Davies

The Payment Protection Insurance (PPI) scandal will last for years to come, according to the chief financial ombudsman.

Caroline Wayman said there are still around 4,000 complaints per week about banks and credit card companies that mis-sold PPI.

At the end of 2012, that figure was closer to 12,000.

"Although numbers are slowly declining, it will be years before we can truly say this mis-selling scandal is over," said Ms Wayman.

Banks alone have paid out £22bn in compensation since the scandal began. Ms Wayman said that the Financial Ombudsman has dealt with 1.25m complaints, but that doesn't include complaints made directly to banks or credit card companies.

Recruitment drive

The Financial Ombudsman said it will hire 200 new adjudicators and ombudsmen after already having doubled in-size to 4,000 staff in order to cope with PPI complaints.

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