Summary
THE selling of payment protection insurance, which has long been under scrutiny from campaigners and the media, has at last prompted a call from the Financial Services Authority for "urgent action" from the industry.
The watchdog said a programme of visits and mystery shopping had uncovered "poor selling practices and a lack of proper compliance controls" among a sample of companies. It went on: "The firms that sell PPI and the insurers who provide the policies will be receiving detailed feedback on the FSA's findings and will need to address any problems raised. Some more serious cases will be referred for further investigation with a view to possible enforcement action."See the full content of this document
Extract
Watchdog Wants Action On Ppi
About 25 million PPI policies ...
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