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EU banks, insurers warned of supervisory measures over credit protection products

( October 4, 2022, 11:12 GMT | Official Statement) -- MLex Summary: EU banks and insurers have been warned by the bloc’s insurance watchdog to improve consumer protection issues relating to the sale of credit protection insurance products, or face supervisory action. The European Insurance and Occupational Pensions Authority said it had found practices that could be detrimental to consumers, including “serious concerns” relating to high commissions, as well as conflicts of interest among manufacturers, distributors and consumers.Statement follows. Report and warning attached....

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