Ombudsman slams claims companies over PPI scandal
In its latest newsletter the FOS said that 45% of complaints received last year were from CMCs, reported IFAOnline.
Caroline Wayman, principal ombudsman and legal director at the FOS, said CMCs could seem “attractive and reassuring” but insisted consumers did not need to go through third parties to make claims.
“The ‘PPI problem’ stems from very large numbers of PPI policies being sold inappropriately by financial businesses - so CMCs didn’t create the problem. But they’ve certainly exploited it
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Most read
- Michael Gove slams "neither fair nor decent" high premiums for leaseholders
- Aviva enters exclusive discussions to buy Azur’s HNW operation
- RSA re-jigs leadership team to bring customer operations and claims together
- Blog: Nine ways to reduce risk in tech firm contracts
- FCA speeds up permission removal process
- Gallagher to rebrand Coleman Marine
- The Broker Barometer Survey is back!