UK Moves To Regulate PPI Market

Law360, New York (July 8, 2009, 12:00 AM EDT) -- The U.K.'s Competition Commission took a first step Wednesday toward promoting competition in the payment protection insurance market, proposing regulations that would tighten controls on the sale of the policies.

In a draft order, the CC outlined specific strategies it hopes will protect consumers seeking PPI, a type of coverage that helps a borrower continue to make payments on debt in the event that unemployment or illness prevents them from working.

The measures would prohibit the sale of PPI policies during credit sales, ban single-premium policies...
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