From This is Money:
One former boss of a comparison site warned that as a result of the collapse, many consumers could be misled by false claims and misleading information.
Sites such as Moneysupermarket.com and Confused.com, which sell millions of insurance, mortgages, phone and internet deals, led a boycott of the new voluntary code.
The Comparison Consortium was set up to provide a recognisable stamp of quality for the sales practices of price comparison websites.
The voluntary code was viewed as a last-ditch attempt to stave off compulsory Government rules on sales practices.
But so few firms signed up, the consortium has collapsed. Now firms can continue displaying information about their products with minimal controls on their activities.
Sean Gardner, former managing director of the Moneyexpert website and head of the Comparison Consortium until its demise, says: ‘Trying to bring many of these people together felt like herding a group of angry cats.
‘It is hard to avoid the conclusion…
Leave a Reply