U.K. Banks Face Possible Ban on Most Credit Insurance – BusinessWeek


May 14 (Bloomberg) — U.K. banks including Barclays Plc and Lloyds Banking Group Plc should be banned from selling most types of credit insurance at the same time they sell the underlying financial products, a regulator said.

The proposal today is the second attempt by Britain’s Competition Commission to ensure that sales of payment- protection insurance, or PPI, are fair to consumers. Barclays and Lloyds won an appeal in October, when the antitrust watchdog was ordered to review an earlier prohibition.

via U.K. Banks Face Possible Ban on Most Credit Insurance (Update2) – BusinessWeek.

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