ABI slams point of sale PPI ban
The Association of British Insurers (ABI) says the Competition Commission's proposal to stop point of sale payment protection insurance selling is "devastating news for borrowers".
Under the proposals, lenders would be banned from selling PPI to borrowers within 14 days of them taking out a loan.
The commission says it would give consumers more time to compare alternative products. However, the ABI says the move would leave millions of consumers unprotected.
Nick Starling, the ABI's director of general insurance and health, said: "This is devastating news for consumers. By effectively denying consumers PPI in the very economic climate that they need it most, the Competition
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