MPPI

The majority of polled advisers have said FSA and Office of Fair Trading final guidance on short-term income protection provides complete clarity, amid recent concern over the PPI-style-product guidance.

The FSA has said it will provide further guidance on short-term income protection if it received individual demand for it, according to an attendee at a meeting with the regulator yesterday.

The FSA has approved consultation on Financial Ombudsman Service proposals to increase PPI case fees and overall levy to allow for more free cases, amid concerns about PPI complaint handling behaviour.

Short-term income protection sales are very close to stalling, a direct to consumer provider has reported.

The Financial Services Authority (FSA) has fined three Lloyds Banking Group firms £4.3m for system failings, that resulted in up to 140,000 customers receiving delayed payment protection insurance (PPI) redress.

The Financial Services Compensation Scheme (FSCS) has paid out £136m in mis-sold PPI claims since 2008.

The money banks have set aside for payment protection insurance (PPI) mis-selling compensation will run out by the end of the year, according to analysis from Which?

The FSA is considering proposals to introduce time limits for PPI complaints, as put forward by the British Bankers' Association (BBA).

The Money Advice Service (MAS) is still in discussions with the Competition Commission regarding the lack of Payment Protection Insurance (PPI) comparison tables on its website, the Association of British Insurers (ABI) has reported.

BBC's Watchdog aired concerns last night that the banks have not been honouring commitments to pay back missold PPI.