BBA hits out at PPI scrutiny

In a statement issued earlier today, the OFT said all forms of PPI, including mortgage payment protection insurance, were being referred for scrutiny, as it is concerned there is little competitive pressure to buy such policies elsewhere when the insurance is usually sold at the point of signing for a loan. However, Angela Knight, chief executive designate of the BBA, says there is plenty of information available to consumers about the purchase of PPI which means it is not necessary to question the competitive nature of PPI. “You need no more than a look at bank websites to see that the...