The payment protection insurance (PPI) debacle has been one of the biggest cases of mis-selling in history, but this story shows just how ambitious some bank advisers selling the policies were...
Lord McFall of Alcluith, former chair of the Treasury Select Committee (TSC) and head of the Workplace Retirement Income Commission (WRIC), has revealed Barclays tried to sell even him some PPI. McFall has a long history of pointing out high charges, excessive pay and opacity in charges in financial services. Last summer his WRIC report called for a cap on charges in pension funds, and in November he criticised the £350,000 salary of the chief executive of the Money Advice Service. McFall said he crashed his car after he had been elected MP for West Dunbartonshire in 2005. He ap...
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