The FCA’s supervisory approach to PPI
The UK Financial Conduct Authority (FCA) has launched a public awareness campaign highlighting the 29 August 2019 deadline to complain about payment protection insurance (PPI).
This campaign will complement the regulatory and supervisory work the FCA has done and will continue to do around PPI.
The consumer campaign is being funded by 18 firms that together receive more than 90% of complaints about the sale of PPI. These firms include banks and other providers. The regulator asked these firms to make a range of improvements to the ease and speed with which complaints can be made to them, ahead of 29 August 2017 when the campaign was launched.
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Sam Woods,deputy governor for prudential regulation and CEO of the PRA, has sent a letter concerning contingency planning to the CEOs and Branch Managers of banks