FSA Payment Protection: Making Moves Toward Restitution
February 21st, 2009 | by admin |As a result of the Financial Services and Markets Act of 2000, the Financial Services Authority (FSA) was created. Completely independent of the government, the FSA is funded by the financial-services industry itself and operated by a board of directors appointed by the Treasury. Since its inception, the FSA has strove to ensure the fair and equitable selling practices for all financial-service products to the public. An excellent example of the FSA in action was a recent fsa payment protection investigation where it was discovered that a fair amount of payment protection insurance (PPI) policies were being mis sold payment protection. Many of these policies were not in line with the customers’ needs or were simply being misrepresented. In both cases, the FSA brought the issue to light and made moves toward restitution.
