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PPI Claim News - 16/11/2009

Loan Refunds: Lenders are treated like 'drug dealers'

The Financial Services Authority (FSA) has been accused of treating money lending companies as if they were "drug-dealers at the school gates".

Council of Mortgage Lenders (CML) chairman Matthew Wyles made the comments at the organisation's annual conference.

He called for the regulatory body to treat consumers with more respect rather than as "wanton children".

Mr Wyles said that the regulator "should not attempt to wrap consumers in cotton wool and make borrowing risk-free. That is not the nature of lending, and it is not the nature of borrowing.

The organisation too often sees lenders as "enticing innocent consumers in and then getting them hooked, for their own evil profit-driven purposes", he added.

This week's Queen's speech is likely to include new powers to limit bankers' bonuses and support consumer legal actions against banks.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges from.ADNFCR-2776-ID-19462279-ADNFCR

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