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Banks: Payment Protection Insurance

Answer

My Lords, every call made in respect of PPI is not necessarily inappropriate. Some are. Many people have used claims management companies because they did not feel confident going through the process themselves. I accept that there has been abuse. The key thing we have done is to give the regulator power to crack down on firms which make speculative claims to the banks when there is no justification for it.

Secondary information

Type

Oral question

Reference

751 c1 

Session

2013-14

Oral question type

Supplementary

Chamber / Committee

House of Lords chamber

Subjects

Disclosure of information Compensation Banks Credit Insurance Misrepresentation

Link

View this Oral question on www.publications.parliament.uk