FSA – Consumers to benefit from PPI refunds agreement

Consumers who have bought payment protection insurance (PPI) with a single premium will benefit from a series of measures relating to the fairness and transparency of refunds agreed between the Financial Services Authority (FSA) and the PPI industry.

The agreement, secured in collaboration with a number of trade associations, means that on single premium PPI policies, firms should 1) not include nil refund terms in contracts with new customers, 2)

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