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Recent industry figures show that more people than ever are asking banks for their Payment Protection Insurance (PPI) payments back. But behind the scenes, more delays on the decision to ban the sale of PPI are brewing after Barclays win their case.
In an appeal led by law firm Clifford Chance, Barclays has won an appeal against a decision by the Competition Commission to ban the sale of PPI alongside credit cards and loans.
You’d think that as one of the UK’s leading banks and after the debacle of unfair charges, mis-sold cover and the thousands of PPI compensation claims that Barclays would let it go. But no, PPI is a billion pound business and they obviously want to keep hold of as much of their cut as possible. What all of this means is that the decision by the Competition Commission will have to be reviewed by… the Competition Commission.
I challenge someone to find me a QUANGO with a backbone.