Credit provider

Antitrust agency to monitor credit provider for PPI violations


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By Najiyya Budaly (November 1, 2021, 2:56 p.m. GMT) – Britain’s antitrust watchdog has said it will monitor NewDay Ltd. after finding that the credit provider violated payment protection insurance disclosure rules by failing to provide up to 27,000 clients with annual statements of their policies.

The Autorité de la concurrence et des Marchés said on Friday that it would monitor NewDay’s plans to address its violations of the payment protection insurance market investigation order 2011. The rules prohibit the sale of the insurance product and require providers to provide annual reviews to customers to remind them that they hold the policy.

NewDay, which is based in London and provides credits …

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