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Regulators Told To Act On Firms Exploiting Consumer Loyalty

Law360, London (July 17, 2017, 12:02 AM BST) -- A major U.K. consumer protection group on Monday called for competition authorities to take “robust and effective action” against banks and insurers that exploit customers with obscure or misleading products and prices.

The Financial Services Consumer Panel says banks and insurers are creating products that are over-complex and contain too much small print. (AP) The Financial Services Consumer Panel, an independent body set up to hold the Financial Conduct Authority to account, says in research released Monday that while firms appear to compete vigorously, they actually...
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