Ban on banks’ point-of-sale PPI add-ons must be reviewed
The Competition Appeal Tribunal ruled on Friday that the Competition Commission must review its proposal to stop lenders selling payment Protection insurance (PPI) when customers apply for loans and credit cards, the FT reports.
The case was appealed by Barclays, but Lloyds Banking Group and Shop Direct became involved.
The Commission had said providers would have to wait for seven days after loans were agreed before they could contact customers to sell them the insurance.
