Following on from its statements of 30 September 2008 and 20 January 2009 (see our previous blog on this statement here) suggesting firms may wish to stop selling single premium PPI, the FSA has sent a letter to CEO’s requesting that if they have not already done so, to stop selling single PPI with unsecured personal loans as soon as possible and in any event no later than 29 May 2009. The request is being made in light of the FSA’s ongoing concerns regarding the standard of sales of single premium PPI and to bring an orderly withdrawal of single premium PPI from the market.
