In this Policy Statement (PS) we summarise and respond to feedback to Consultation Paper CP18/33: Regular premium PPI complaints and recurring non-disclosure of commission – Feedback on CP18/18, final guidance, and consultation on proposed mailing requirements.
This paper publishes final rules and guidance requiring firms to write to certain previously rejected PPI complainants, to tell them they can make a new complaint about undisclosed commission and remind them of the 29 August 2019 deadline for doing so.
Who this applies to
The rules and guidance will primarily affect firms that sold regular premium PPI or single premium PPI and/or provided credit agreements (including restricted credit) which these PPI policies covered.
This policy statement will be of interest to:
- consumers who were sold PPI or may have been, in particular regular premium PPI, including where it covered restricted credit and was sold before 6 April 2007
- consumer organisations and claims management companies or other paid advocates who take forward complaints about PPI on behalf of consumers or otherwise help them
Consumers who previously made a complaint about regular premium PPI and had it rejected may be able to make a new complaint to their lender.
Consumers should consider and decide whether they want to make a PPI complaint before the 29 August 2019 deadline.