Loan News

Commenting on the Competition Commission's findings into retail PPI (RPPI), Rob Barnes, head of shopping at price comparison site moneysupermarket.com, said: "Brits across the country are undoubtedly watching their pennies as the credit crunch takes full hold.

Almost two out of three people who take out a loan to consolidate their debts go on to borrow more while still repaying that loan, according to research from the UK's leading price comparison site, moneysupermarket.com.

As the Financial Services Authority (FSA) announces that it has fined Alliance & Leicester £7million for mis-selling Payment Protection Insurance, Which? Chief Executive, Peter Vicary-Smith, says: "It's great to see the FSA hitting companies where it hurts.

Alliance & Leicester confirms that it has agreed a settlement with the Financial Services Authority in relation to advice given over the telephone prior to the sale of Payment Protection Insurance with unsecured Personal Loans between 14 January 2005 and 31 December 2007.

The Financial Services Authority (FSA) has fined Alliance & Leicester Plc (A&L) £7 million for serious failings in its telephone sales of payment protection insurance (PPI).

A new website will be launched in October 2008 to help consumers compare the price of home credit loans and loans repaid in cash from some other providers including credit unions.

"Payment protection insurance is a valuable product which provides customers with a safety net to meet their financial commitments. This is particularly important in these times of economic uncertainty when PPI can provide peace of mind for millions of customers.

The FSA have published their thematic update on the sale of Payment Protection Insurance (PPI). The insurance industry has been working hard to improve the sales of PPI so that customers can be satisfied they have a valuable product that is suitable for their needs during such uncertain economic times.

Following the publication of the Financial Services Authority's (FSA) latest announcement on its investigation into PPI sales, Which? chief executive, Peter Vicary-Smith, says: "This damning evidence demands that the FSA stops dithering and takes decisive action to sort out the PPI market.

In an update on its thematic review of sale of Payment Protection Insurance (PPI) the Financial Services Authority (FSA) has set out that, due to the poor findings from its recent work, it is escalating its regulatory intervention.