The Ministry of Justice is holding a summit today to discuss the "predatory" conduct of claims management companies offering payment protection insurance claims management.
Anthony Browne, chief executive at the British Bankers' Association, will meet with Justice Secretary Chris Grayling, pictured, to discuss the "aggressive" approach these firms have taken and explore possible courses of action for clamp down on such firms.
According the Daily Express, the BBA said there needs to be clampdown on firms that constantly bombard people with text messages and phone calls that promise get them compensation.
The BBA has been trying to put an end to PPI claims for a while, however talks with consumer groups collapsed in June due to differences of opinion to between the parties.
Last week, Gabriel Bernardino, the chairman of the European Insurance and Occupational Pensions Authority urged regulators to scrutinise their PPI markets as he "acknowledged that significant consumer protection problems, including mis-selling issues and market imperfections, have occurred in PPI".
