CMA slaps Ardonagh’s Paymentshield over PPI
The “significant” breaches meant some customers did not get annual review statements for up to six years.
Paymentshield, which is part of the Ardonagh Group, has been issued directions by the Competition and Markets Authority (CMA) over failures to send Payment Protection Insurance (PPI) annual reviews to some customers.
As part of this, Paymentshield will be required to commission an independent assurance audit of its procedures.
In addition, the company should also complete customer remediation relating to the current breach, including sending out apology letters.
Breach
The CMA detailed that
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