FSA and Payment Protection Insurance the latest

The FSA has now published the record of its 31 July 2006 meeting on the Payment Protection Insurance market held with trade associations. This meeting is the third of three meetings between trade associations and the FSA on this topic.

The first meeting (December 2005) was held to consider industry actions to address compliance failings and wider competition issues identified by the FSA and the OFT in the PPI market.

The purpose of the second meeting (April 2006) was to discuss the responses received on issues raised during the first meeting. The responses focused mainly on:

1. improving information provided to consumers;
2. improving the eligibility checks during the sales process;
3. supporting training and competence; and