FSA Payment Protection: Investigating The Financial Service Industry For You
In the wake of supposed mis selling of payment protection insurance (PPI), the Financial Services Authority (FSA) launched a recent fsa payment protection investigation in order to find out if the allegations had merit. The resulting findings were somewhat disturbing and transparent. Through a series of supervisory visits and mystery shopping, the FSA discovered that indeed the practice of ill-advised payment protection plans — primarily morgage payment protection plans — was prevalent. On numerous occasions, and from over 30 service-provider vendors, the practice of mis sold PPI was taking place. Most of the instances dealt with sellers simply not selling the proper policies and basically not having the correct knowledge to pass on to the customer.
