OFT launches market study into Payment Protection Insurance
The UK Office of Fair Trading (OFT) has today announced that it will be undertaking a nine month market study into the Payment Protection Insurance (PPI) sector. PPI is offered on a number of credit products including mortgages, loans and credit cards and protects a borrower’s ability to keep up payments in the event of accident, sickness or unemployment.
The study has been prompted by a super-complaint made by Citizen’s Advice and will consider issues such as consumer access to information and how this influences their choices.
Frontier (London) is advising HSBC in relation to the study.
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