Two million bank customers will be able to claim compensation for being sold unnecessary insurance policies covering the loss or theft of their bank cards. The plan has been agreed by the Financial Conduct Authority (FCA) and 11 banks and credit card issuers. Affected customers will be sent a letter in April or May, asking them to vote in favour of the compensation scheme. If the scheme is approved the customers could receive several hundred pounds. The problem was with insurance policies run by a company called Affinion and sold by the banks and credit card firms. The policies went under the names such as Card Protection, Sentinel, Sentinel Gold, Sentinel Protection, Sentinel Excel and Safe and Secure Plus.....Read more here