Barclays is arguing against the point of sale ban on the grounds that it is not justified by the evidence collected as part of the Competition Commission?s investigation.
Photo: REUTERS
Barclays will begin its bid today to have a future ban on the sale of
controversial payment protection insurance alongside credit agreements
lifted.
The group is challenging a recent decision by the Competition Commission to
ban the sale of the insurance alongside credit cards, loans and mortgages
from October 2010, with providers instead having to wait for seven days
before they can contact customers to sell them the cover.
The move is one of a number of measures which will be introduced next year in
a bid to increase competition in the market, alongside changes to make it
easier for people to shop around for the cover and to change providers.
Payment protection insurance (PPI) covers loan repayments if the holder is
unable to work due to an accident or illness or if they lose their job.
Barclays is arguing against the point of sale ban on the grounds that it is …
Read the original article at Telegraph
