Justin Tomlinson

Justin Tomlinson

North Swindon

Justin Tomlinson MP Joins Industry Experts To Discuss The Legacy And Lessons Of PPI

 

Justin joined representatives from the Consumer Credit Counselling Service and the Financial Ombudsman Service on a panel at Conservative Party Conference to discuss the legacy and lessons of the PPI scandal.

The event was chaired by Shaun Bailey who serves as an advisor to the Prime Minister.

Discussion focused on the need for transparency in the financial system and in the products on offer. There was also a focus on the concerning practices of the PPI claims organisations whining some cases can be less transparent than the banks were in the first place.

Justin spoke on the issues with PPI and the financial services industry in general he has seen through his casework before going on to highlight the need for financial education.

"PPI is just one of many examples of why we need to improve financial literacy, especially amongst young people. That first loan, credit card or mortgage can be confusing at the best of times and it is important that our young people have the financial skills to make informed decisions about any protection they might need.

"Such an education must sit alongside a commitment from the banks and financial providers to greater transparency in the products they sell and the services they provide. Only then can we hope to avoid another PPI-esque scandal."
 

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