MSE News: Claims firms could have to point consumers to free alternatives

Claims firms will have to clearly spell out their fees and direct customers to free alternatives BEFORE they sign any contracts, under new plans proposed by the financial regulator...
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'Claims firms could have to point consumers to free alternatives'
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  • Nasqueron
    Nasqueron Posts: 8,998 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Shutting the stable door after the horse has bolted into a field, eaten the grass, moved to another field, died, been turned into glue and was used on a 6 year old's collage in primary school
  • dunstonh
    dunstonh Posts: 116,598 Forumite
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    It is a bit funny to start regulating them at least semi-properly just as the PPI deadline hits. Still we are already seeing dodgy adverts trying to get their claws into other areas.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • ~Brock~
    ~Brock~ Posts: 1,710 Forumite
    First Anniversary First Post Combo Breaker
    I only hope that despite the polite but arms length references in their recent consultation, the FCA both see and treat these parasities for what they really are.

    The sooner people realise that the money wasted by firms on dealing with nebulous and fraudulent claims - including FOS fees which are happily raked in at South Quay Plaza regardless of merit because they keep the monster fed - comes straight back out of the pockets of normal consumers in general by way of product pricing, the better.
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