FSA demands firms implement new measures to protect PPI customers
The Financial Services Authority (FSA) has given firms until the end of November to implement a set of new measures intended to help protect consumers in the payment protection insurance (PPI) market.
The FSA said the package would ensure customers were treated more fairly when complaining about PPI and better when buying the product.
It includes a new handbook guidance to ensure complaints are handled properly, and redressed fairly where appropriate; an explanation of when and why firms should analyse their past complaints to identify if there are serious flaws in sales practices that may have affected complainants and even non-complainants; and an open letter setting out common sales
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