The FLA responds to Competition Commission's final ruling on PPI

29th January 2009

Responding to the Competition Commission, FLA Director General Stephen Sklaroff said:

"The Commission has thrown the baby out with the bath water. By preventing customers from protecting their repayments at the time they take out a loan, the Commission has made it much less likely that they will do so at all. Many more people will go without the safety-net provided by PPI, just when unemployment is reaching record highs.

"It is important for people to have access to have information about protecting their payments, but by banning the sale of insurance at the same time as taking out a loan, the Commission has failed to understand consumer buying behaviour."

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