Liverpool Victoria hit with £840k fine for PPI failings

The firm will also be required to pay compensation to customers who bought PPI when seeking unsecured loans between 14 April 2005 and 8 August 2007. According to the FSA, customers that phoned LVBS to obtain an unsecured loan had the cost of PPI added to their quote without having asked for it. LVBS was also found to be placing pressure on customers who said they did not want to buy the PPI. Customers were also given insufficient and misleading information about the features and limitations of the PPI offered. The FSA reviewed 97 calls and found more than 60% were non-compliant. Th...