PPI

A survey conducted by the Association of Finance Brokers has found a majority of brokers think the customer is owned by a broker and not a lender in a transaction.

The Association of Mortgage Intermediaries (AMI) has given evidence to the Competition Commission's enquiry into PPI.

An FSA proposal to introduce comparison tables on payment protection insurance (PPI) for consumers has been both welcomed and condemned.

Finance firms can no longer automatically offer payment protection insurance after the FSA changed how the products are sold over the internet.

The FSA today says there must be greater clarity for consumers on both the price and ‘characteristics' of protection products sold by advisers and providers.

Five trade associations have produced a consumer guide to PPI .

Payment protection insurance providers are "rubbing salt into an already very deep wound" by upping product costs at a time when PPI is under the OFT microscope.

Following the recently published finding of the FSA's Insurance Conduct of Business (ICOB) review , brokers are being urged to ensure they adhere to FSA policies on TCF when offering payment protection insurance (PPI) products.

A £3,000 contribution cap on personal accounts would be sufficient for most low earners - including the self-employed - to achieve a replacement rate in retirement of two-thirds of their final salary.

The personal accounts board should include consumer representation in the form of a panel similar to those used by the Financial Services Authority, claims the Pensions Policy Institute.