Curbs on loan insurance hit bank sector

first_img Curbs on loan insurance hit bank sector whatsapp Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Thursday 14 October 2010 9:11 pm whatsappcenter_img KCS-content UK lenders are to be banned from selling customers payment protection insurance (PPI) alongside credit products such as personal loans. The Competition Commission yesterday confirmed it will introduce a point-of-sale PPI prohibition as part of a package of reforms designed to make the PPI market more competitive. The decision confirms a provisional ban issued by the Commission in May after it investigated PPI selling practices. Lenders will now have to wait seven days before offering PPI to their customers.Peter Davis, the Commission’s deputy chairman, said the changes “will introduce competition which is likely to bring substantial benefits to customers in terms of lower prices, better products and more choice”. “We have come to a clear view that, overall, customers will benefit significantly from the market reforms we propose introducing for PPI products,” Davis added.Several banks are delaying processing some customers’ claims for refunds on PPI products while a challenge of the complaints review process is heard. The British Bankers’ Association has brought a judicial review against city watchdog the FSA over new guidance to make banks review claims by its current business conduct standards as well as those applicable at the time of sale. PPI is sold to cover borrowers’ loan repayments if they fall ill, die, or lose their jobs. Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Sharelast_img

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