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Rethink over complaint rules

Rigid complaint-handling rules requiring firms to respond within five working days and give a four-week update are to be scrapped as part of the Newcob consultation and replaced with a requirement that firms respond in a “reasonable time-frame”, Money Marketing understands.

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Paymentshield reassures intermediaries over MPPI advice

Paymentshield is warning intermediaries to apply due care with MPPI products following the latest reviews of PPI.The provider insists that the same rules must apply when dealing with mortgage-related products as do standard loan repayment insurance. The recent results of OFT and FSA investigations into PPI propose to refer the PPI market, including MPPI, to […]

C&G relaunches adviser site

Cheltenham & Gloucester is relaunching its intermediary website this week. The revamped website will include an affordability calculator, which will enable brokers to get a decision on how much C&G will lend their client without leaving a footprint on their credit record. C&G has also added a news alert service to keep intermediaries abreast of […]

FSA issues £455,000 PPI fine to Loans.co.uk

The FSA has fined Loans.co.uk £455,000 for failing to treat its customers fairly when selling PPI in a further sign the regulator is cracking down in this area.The FSA says it found the firm did not have appropriate systems and controls in place to minimise the risk of unsuitable sales.At this week’s Treasury select committee […]

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