Consumer Panel response to Competition Commission on PPI

In response to the report from the Competition Commission on PPI (Payment Protection Insurance) the new Chairman of the Financial Services Consumer Panel, David Lipsey, a crossbench peer, said: "PPI, both products and sales, has been a source of inexcusable scandals for too long. The FSA has been tackling the regulated aspects of PPI, and now we see a clearer exposition of the competition issues in today's report. The Consumer Panel greatly welcomes the attention which the Competition Commission has given to this issue."