FSA issues PPI redress guidance
The regulator has published proposed guidance for firms contacting customers who they may have mis-sold payment protection insurance (PPI) to but have not yet complained.
The guidance outlines steps the Financial Services Authority (FSA) believes firms should take when writing to these customers.
It expects firms to be clear in their communications explaining why a customer may have been mis-sold, how the customer should respond and stressing the importance of responding promptly.
The letters are part of a root cause analysis firms that have received a large number of complaints have to undertake.
When an FSA authorised firm identifies recurring or systemic
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