FSA Wins Loan Insurance Case Against Banks
Published / Last Updated on 20/04/2011
FSA Wins Loan Insurance Case Against Banks.
The FSA has won a judicial review over measures to offer consumers protection in relation to sales of payment protection insurance (PPI).
This followed the FSA publishing a statement in August last year outlining measures to protect consumers buying PPI. The measures included guidance to ensure complaints are handled properly, an explanation of when firms should analyse past complaints, and an open letter setting out common sales failings.
The FSA believe this decision signals the end of years of poor complaint handling and will produce a dramatic improvement in the way customers are treated when complaining.