FOS letter presents new threat to PPI

The FOS has written to the regulator after receiving around 500 complaints a week about PPI policies. It has triggered the FSA’s ‘wider implications’ process, which renders enforcement action more likely, and the regulator says it will be discussing the issue at its board meeting later this month. A spokesman says: “The FOS has written to us asking us to look at PPI in more detail. This is an area of significant interest and we will be discussing this more.” The FOS action follows new research by consumer watchdog Which? that suggested more than a million people have been lured into t...