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News

Competition Commission ‘Not Doing Anything To Help’ PPI Victims

A marketing expert with over twenty five years of experience in advising companies has launched a critique on the Competition Commission, claiming that the twelve million policy holders who have been mis-sold PPI insurance have still not received the sufficient compensation that they deserve.

Mr Hunt stated that ‘Instead of focusing on returning PPI payments to consumers, the Competition Commission – backed by the Office of Fair Trading and the Financial Services Authority – is adding insult to injury by running free technical briefings this summer to teach banks and lenders how to legitimately market their rip-off PPI policies’

Confused by PPI Rules and Laws, many consumers were unaware that they had been sold the policies, and it was only an enquiry by the Competition Commission that opened up public awareness to the matter.

Futhering his attack, Mr Hunt then added that the public did not need ‘future remedies’, and that ‘they want their money back right now for being mis-sold PPIs over the past decade. He concluded that ‘fancy new marketing and sales techniques won’t disguise the fact that PPIs are fundamentally flawed’.

Finally, he made further statements regarding the FSA, whom he claimed ‘made controversial statements but did little to intervene’, and the OFT who ‘passed the buck back to the Competition Commission’ regarding the PPI Rules and Laws.

For more information on PPI laws and rules, and how you could potentially reclaim up to and over £10,000 in reclaimed PPI payments, fill in the Credit Line Contact Form by following this link now.

Posted by Shaun Edwards on 29 Jun 2010

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