PPI ban critics branded 'spoilt children'

The Association of British Insurers (ABI) was yesterday at the front of a queue of financial bodies keen to label the Competition Commission's (CC's) recommendations "completely wrong" and "devastating" for consumers. But PPI lobbyist Sara-Ann Burgess says their opposition "smacks of sour grapes" as their members will be "unable to continue profiteering at the expense of consumers". Under the CC's proposals, providers would be prohibited from selling PPI to a customer within 14 days of selling them credit. Among a raft of recommendations, single premium PPI would also be banned for good...