'Spurious' providers threaten PPI inquiry

The firm says providers continue to offer “spurious” explanations of why they charge single premiums and refuse pro rata rebates. As part of its inquiry into payment protection, the Competition Commission (CC) found consumers pay more than £1.4bn a year too much for PPI because finance providers in the £5.4bn market fail to compete properly. Burgesses’ director, Sara-Ann Burgess, says it is “imperative” the CC does not give “disproportional weight” to the comments of providers that do not have consumers’ best interests at heart. The CC has asked for further information from the market bef...