CPP's chief executive officer Paul Stobart, said the proposed sale was in the "best interests of CPP and its stakeholders" and would help in "stabilising the business".

BBC: York-based card firm CPP to sell US arm for ?26.1m

New CPP chief executive Paul Stobart said the company had taken steps to overhaul its practices.

BBC: Insurance company CPP hit by record FSA fine

The FSA found that CPP overstated the risks and consequences of ID theft when this insurance was being sold.

BBC: Insurance company CPP hit by record FSA fine