A new report has expressed concern on the finding that UK banks charge up to 80 per cent commission on payment protection insurance (PPI).
Research published in a report by the Competition Commission (CC) found that high costs are applied by banks when PPI policies are linked with personal
The cost of PPI was found to be higher in some instances than the interest paid on the
Some ninety per cent of PPI sold in the UK last year was linked with personal
Post Office head of protection products Duncan Ceasar-Gordon commented that many companies are unaware of the extra costs incurred by adding PPI to a
“Those who have been at the hands of aggressive sales tactics can feel they have little choice but to take the expensive policy tied to a
Financial Services Authority managing director Clive Briault said stronger action will be taken by the body against firms who’s PPI selling fails to meet treating customers fairly criteria.
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