Major finance firms agree to change

Major finance firms have agreed to change the way they sell payment protection insurance (PPI) over the internet, following action by the Financial Services Authority (FSA). Firms were offering loans on their websites where PPI was automatically included, using techniques such as a 'pre-ticked' box. Firms have now agreed to change this so that customers must actively choose to buy it. The FSA is due to report on its latest investigations into PPI sales standards in September 2007.

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