Restriction approved for payment protection insurance

A ban on the sale of payment protection insurance at the same time as credit cards, loans and mortgages will go ahead, the competition watchdog said today.

Providers will instead have to wait seven days before they can contact customers to sell them the insurance, the Competition Commission confirmed.

The move upholds an earlier ruling it made on plans for a point-of-sale prohibition, which was subject to an appeal by Barclays.