Press Release
FLA CALLS FOR REGULATORY COOPERATION IN PPI MARKET
15 August 2007
Responding to today's report from Datamonitor on the continued decline in sales of Payment Protection Insurance (PPI), Stephen Sklaroff, Director General of the Finance and Leasing Association, said:
"This report shows that recent regulatory changes and poor publicity may have had the unintended effect of inhibiting sales of PPI. This is particularly worrying at a time of rising interest rates, when PPI is likely to be an even more important protection for people taking out credit. It is vital that the regulatory authorities work with the industry to ensure that PPI can continue to be provided to people who need it."
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