UK Seeks To Spark Competition In PPI Market

Law360, New York (January 29, 2009, 12:00 AM EST) -- The U.K.'s Competition Commission says many more consumer safeguards are needed to boost competition between suppliers in the payment protection insurance market.

In a final report released Thursday, the Competition Commission found that businesses that offer payment protection insurance along with offers for credit cards or consumer loans face little or no competition largely because of the way that type of insurance is sold.

Payment protection insurance is a type of coverage that helps a borrower continue to make payments on debt in the event that...
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