Measures set out to address competition issues
The payment protection insurance (PPI) market is set to be transformed following the Competition Commission's final report on the controversial policies. Measures for the product, as set out by the report, include a ban on the sale of PPI by the credit provider at the point of sale or within the following seven days, a complete prohibition on single premium PPI, personal PPI quotes for customers, annual statements and further measures ensuring improved information is available for consumers to make comparisons and searches for other products easier. The commission said it was introducin...
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