FSA wants blanket ban on single premium PPI sales

It says it remains concerned about whether consumers are being treated fairly in the sales process and has set a 29 May deadline. The move comes just a month after a number of major UK banks, including Lloyds Banking Group and RBS, agreed to pull their single premium products. "We recognise the severity of the current economic climate and the financial problems many consumers are facing," the letter, from FSA managing director of retail markets Jon Pain, reads. "Moreover, we believe that PPI can play an important and legitimate role to cover repayments on specific credit agreements fo...