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Consumers and consumer protection organisations are increasingly putting pressure on financial providers to make the payment protection insurance (PPI) market as transparent as possible, in order to help consumers gain a better understanding of their financial positions. William Amos, head of retail enforcement at the Financial Services Authority (FSA), warned consumers against financial providers that use pressure sales tactics in order to encourage customers to buy PPI, referencing a recent case in which the FSA had fined online firm Loans.co.uk 455,000 for taking advantage of its PPI customers.

Mr Amos, speaking on BBC Radio Five Live s Wake Up to Money programme, said the fine was enforced because Loans.co.uk had failed to adequately explain what PPI policies cover - as well as what they did not cover. He said:

“It s important when customers go in to buy this product that they understand that they may already have existing cover.”

Mr Amos further warned that the FSA co (more...)

So many people today are having a little difficulty finding the resources for their financial obligations. Besides having credit debt, there may also be limited income. One of the ways that you can cut some corners for greater savings is to reduce your monthly car insurance costs. Oftentimes there are some extras that you may not need, or other ways to save. Here are some tips for you to be able to get your own better insurance rates.

Review Your Car Insurance Policy

Take out your present car insurance policy and look at the things that you are being given discounts for. Depending on your age and experience, you may be able to get discounts that are currently not yet listed. If you took driver s education classes, see if these are listed, as well as any security devices you have. Or, if you have recently been married, or have a second car, you can get discounts on these things, too.

Besides these, see what options you have. If you do not understand what they are for, talk to your insu (more...)