If it’s broke then fix it

David Kuo, Head of Personal Finance at Fool.co.uk, says: “We are disappointed in the FSA’s findings that continue to show problems in the selling of Payment Protection Insurance.

“For many years Fool.co.uk has warned consumers of these offensive policies that are flogged alongside credit and store cards, mortgages, loans and other financial products. They over-promise at the point of sale and under-deliver at the moment of need.

“When something is broken it needs to be fixed. The FSA must therefore act swiftly to protect consumers from unscrupulous sellers who refuse to clean up their act.”