UK Regulator To Review PPI Competition Remedies

Law360, New York (October 16, 2009, 5:28 PM EDT) -- Following an appeal by Barclays Bank PLC, the U.K. Competition Appeal Tribunal has quashed and remanded a Competition Commission decision to prevent banks from selling payment protection insurance to customers in concert with sales of credit or loans — an action the commission had ruled prevented stand-alone PPI distributors from effectively competing.

In a hefty 82-page judgment published Friday, a three-judge panel of the tribunal ruled that the Competition Commission had failed to consider the loss of convenience to the consumer that a point-of-sale prohibition on...
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