The FSA has published a series of measures to protect consumers buying payment protection insurance(PPI).
It says the reforms will ensure customers are treated more fairly when buying the product and also if they have to make a complaint. The new measures come after a widespread review of the PPI market which saw the FSA take action against 24 firms and individuals for failings, with fines totalling approximately £13m. Firms must implement the reforms by 1 December 2010 and the FSA will be monitoring providers closely to ensure they meet the new standards. The measures include: new handbook guidance to ensure complaints are handled properly, and redressed fairly where appropriate...
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