• From The BBC:

    Plans to restrict the sale of the controversial payment protection insurance (PPI) have been dealt a blow.The Competition Appeal Tribunal has told the Competition Commission to change its plan to restrict PPI sales at the point when loans are granted. The appeal against this impending restriction was made by Barclays bank. The Commission said it would study the judgement “closely” before deciding what to do next, but pointed out it affected just one part of its plan. “The appeal was upheld on one ground which relates to our assessment of the remedy prohibiting the sale of PPI at the point of sale of credit,” said the Competition Commission. “The Commission has been asked to reconsider the loss of convenience for consumers of not being able to buy PPI at the same time as taking out credit.” Forthcoming restrictionsIn January 2009 the Commission outlined a range of limitations on the sale of PPI, which is supposed to enable people to pay off their loans, such as credit card bills or mort…

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    Posted by Jon @ 2:46 pm

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