Mis-selling of PPI, which is supposed to help people meet their loan repayments if they fall ill or lose their jobs, is currently the biggest source of unresolved problems in the financial services industry.
The Dodd-Frank regulations require the CFPB to create a way for banking customers to report theirproblems with financial products and services, and send them to the appropriate state or federal agency.
Is it better for business to seek legislative solutions to industry problemsor to craft a set of mutually acceptable rules for the governance of their symbiotic commercial and financial affairs?