Fine highlights customer exploitation

The recent £182,000 Financial Services Authority (FSA) fine of Hadenglen Home Finance and its chief executive, Richard Hayes, for re-mortgage and payment protection insurance (PPI) selling failures, is another example of the extent of customer exploitation in this sector.

Despite ongoing investigations by the Competition Commission, a number of PPI providers continue to over-inflate premiums, use jargon to confuse purchasers and adopt 'bully-boy' tactics to achieve sales. Although the Office of

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