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Barclays in PPI ban row
BARCLAYS yesterday launched a legal appeal against a Competition Commission decision to ban the sale of Payment Protection Insurance (PPI) alongside financial products.
Barclays told the Competition Appeals Tribunal that a point-of-sale ban was not justified by the evidence and also argued that the scope of the definition of PPI imposed by the Commission is too broad.
PPI is sold to consumers as insurance to cover repayments on loans if they are unable to.