The Financial Services Consumer Panel (FSCP) has welcomed the announcement of FSA action and an industry-wide refund on Mortgage Payment Protection Insurance (MPPI) totalling £60m.
However, it also called for the FSA to continue monitoring MPPI providers after the conclusion of the agreement in January 2010. FSCP chairman Adam Phillips says: "It cannot be right that firms change...
Consumer watchdog Which? has today called on the Justice Secretary Ken Clarke to investigate creating tougher regulation around the activities of claims management companies (CMCs).
The Advertising Standards Authority (ASA) has rejected a complaint that an advert for a claims management firm was misleading, after consumer bodies have warned against the firms.
Lloyds Banking Group made a loss of £3.5bn last year - largely due to money set aside to cover payment protection insurance (PPI) claims - and said its bonus pool was down 30% against 2010.
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