Thursday, August 30, 2007

Nationwide withdraws Payment Protection Insurance (PPI)

Nationwide has stopped selling payment protection insurance after it admitted uncovering problems in mystery shopper exercises. They are now retraining their staff, a large percentage based in Swindon.

Payment Protection Insurance covers you against missed payments due to unemployment and other reasons on credit cards

They have advised customers to contact IFAs (Independent Financial Advisers).

Earlier in the the year were fined by the Financial Services Authority (FSA) for misselling.

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