LONDON — The Terminator is back to give financial advice.
Arnold Schwarzenegger is helping Britain’s financial regulator urge consumers to file claims if they were improperly sold payment protection insurance on loans and credit cards.
Schwarzenegger appears in a Financial Conduct Authority ad publicizing the Aug. 29, 2019 deadline to make the claims. An animatronic model of The Terminator’s head rolls around a grocery store on tank tracks warning customers to “Make a decision! Do it now.”
Authorities estimate 64 million PPI policies were sold along with credit cards, store cards and mortgages between the 1990s and 2010. The contracts were supposed to cover payments for people who couldn’t make them, but the FCA says they were often sold improperly. Some 27 billion pounds ($35 billion) has already been repaid.