Mortgage Payment Protection Insurance has escaped the harsh criticism of PPI yet the product is in any case evolving away from its roots, says Edward Murray
Investigations into the payment protection insurance (PPI) market have been non-stop in recent years and since Citizens Advice lodged a super complaint with the Office of Fair Trading (OFT) in September 2005 the market has been under constant scrutiny. The OFT, the Competition Commission (CC) and the Financial Services Authority (FSA) have all run their microscopes over the PPI market and it has been found wanting in many regards. The CC is currently consulting with the PPI market over the faults it has uncovered and the remedies it wants to introduce to address them (See Box One). Un...
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