Cardif Pinnacle, Lloyds, Nationwide criticized by UK CMA over PPI failures
( July 8, 2020, 09:33 GMT | Official Statement) -- MLex Summary: Cardif Pinnacle, Lloyds and Nationwide have been criticized by the UK competition regulator over Payment Protection Insurance failures. Cardif Pinnacle received legally binding directions from the Competition and Markets Authority, which ordered it to appoint an independent body to audit its PPI processes. The CMA also sent letters to Lloyds and Nationwide over breaches of the agency's PPI measures set out in 2011.Statement follows. The letters are attached....
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