PPI doesn't treat customers fairly, says FSA

The publication of the review comes on the same day as the Office of Fair Trading has announced it is referring the PPI market to the Competition Commission and shows that while a number of firms have improved their sales standards over the past year there are still three key areas of "widespread concern." The FSA says a visit to 40 firms has revealed many are still not giving customers clear information during the sales conversation. It is not being made clear that PPI is optional and customers are not getting full information about how much the insurance will cost. The regulator adds...