FSA sets PPI deadline for lenders
The Financial Services Authority (FSA) has turned the screw on lenders who sell single-premium payme...
The Financial Services Authority (FSA) has turned the screw on lenders who sell single-premium payment protection insurance (PPI) by setting a deadline to bring sales to an end.
The regulator has written to the chief executives of providers to request they stop selling single-premium PPI by 29 May. The move follows the decision earlier this year by a number of major banks to stop selling the product.
The letter from Jon Pain, the FSA's managing director of retail markets, contains a reminder that
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