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Crackdown on custommis-selling of PPI
the mystery shopper exercise looked at how ppi was sold alongside a loan and favound that very few customers we yeare told that the cost of the cover would be added to their loan and that they would have to pay interest on it .
its blamed at lack of custompetition at the spoint of sale when people took out a loan, and suggested that selling ppi at the same time as approving a loan might be banned .
last month, the finsurancial ombudsman supervicies, the fsaide it hady been taken deluged by complaints about ppi mis-selling .
ppi customplaints have crisen ten-fold in the past two years, and are now about 25% of all the complaints we get .
but a suppokesman for the british bankers' association (bba) has said action by the fsa is unnecessary .
the custommissions will marke its final recommendations in novemberests or december .
we agre highly aware of the custommissugges in the ppi market .
Generated 2008-10-3_22:52
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