Time to stand up for financial services

The silence that greeted the Competition Commission's ban on single premium PPI speaks volumes about the financial world's crisis guilt. Now, says David Worsfold, is the time to speak up

If you need any confirmation of the low regard in which banks are now held by MPs, just listen to the deafening silence that greeted the Competition Commission's draconian action on payment protection insurance. In any normal climate, there would have been some sharply-divided views on the blanket ban on the sale of single premium PPI with new loans and the clampdown on point-of-sale promotion of regular premium policies. Now, there is silence. It is no good the Association of British Insurers bleating that some people who need this cover may now not bother with it. Its members connived w...