Barclays’ PPI win ‘just a reprieve’

Published on

The Competition Appeals Tribunal (CAT) has upheld part of Barclays’ challenge of the Competition Commission’s findings on point of sale Payment Protection Insurance (PPI).

The judgment did not question the Competition Commission’s findings on the lack of competition in this market. The CC has proposed a package of remedies and the judgment affects one element of that package.

The appeal was upheld on one ground which relates to the Commission’s assessment of the remedy prohibiting the sale of PPI at the point of sale of credit. The Competition Commission has been asked to reconsider the loss of convenience for consumers of not being able to buy PPI at the same time as taking out credit.

It says will now study the judgment closely before deciding its next move.

Which? personal finance campaigns manager, Doug Taylor, said: “It’s disappointing that the point of sale ban can’t be enforced for now but the Tribunal has left the door open for one to be imposed in the future. The Competition Commission must now come back with a stronger case for a ban. This is just a reprieve for point of sale

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...