CP09/23: The assessment and redress of payment protection insurance complaints
The FSA's Consultation paper CP09/23 is entitled 'CP09/23: The assessment and redress of payment protection insurance complaints'. It was published in September 2009 and the period for consultation responses closes on 30 October 2009.
Update issued 20 November 2009
On 29 September the Financial Services Authority (FSA) published 'CP09/23 - The assessment and redress of payment protection insurance complaints', which proposed new guidance and rules for the fair handling of PPI complaints.
These proposals stemmed from the FSA's serious concerns about the fairness with which firms have assessed consumer complaints about past PPI sales, which have significantly increased in recent times.
The FSA has received a large number of detailed responses to its proposals and, as a result of the time it will take to examine and respond, the FSA will now issue the policy statement early in the new year.
The FSA continues to engage with relevant stakeholders and will consider any further comments received until the end of the year.
Firms remain obliged to treat PPI complaints fairly in the interim (under the existing requirements in the DISP module of the FSA handbook) and complainants not satisfied with the response to their complaints that they receive from firms can refer their cases on to the FOS.
Introductory documents
Newsletter [ PDF ]
Press release
FSA unveils tough measures to protect PPI consumers
Consultation paper
CP09/23: [ PDF ]
The assessment and redress of payment protection insurance complaints
Response
Online response form
Response Paper will be available at the end of the consultation process
Other relevant information
Open letter to the trade associations on common point-of-sale failings for PPI sales - September 2009