This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to Prohibit loan companies from selling payment protection insurance with credit agreements. More details
Submitted by Mr S Davies – Deadline to sign up by: 06 November 2008 – Signatures: 42
Despite tight regulations by the FSA, Loan companies are still selling costly payment protection insurance to consumers. this product can be purchased independant of any loan at a far reduced cost, and without any conflict of interest. How can a loan company with insurance targets be trusted to sell an appropriate product to a consumer, when their is such temptation to steer them into buying a product that has the greatest financial gain for the commission based salesperson. Working within the industry I am aware of how inflated the premiums are, and how salespeople are still selling PPI in such a way that makes it hard for customers to say no.
Mr S Davies, the Petition Creator, joined by: