PPI etc

[Kayless]

As the banks have had a right royal battering over PPI cover presumably they don't offer it anymore. Not that I want to borrow but I was curious as to a) do they offer it? and if they do how do they avoid getting sued in the future?

[ABerrant]

The Competition Commission has produced its PPI Market Investigation Order, partial commencement 6th April 2011 with further articles commenced 1st October 2011 and the final raft of articles to commence 6th April 2012.

Since it wasn't the selling per se which caused problems, rather MIS-selling to non-business customers, the Order offers protections to the consumer (Personal PPI Quote; Annual Review; Point-Of-Sale Prohibition; etc.) which if adhered to by PPI providers should leave no opportunity for future lawsuits.

http://www.competitio...panying_documents.htm