Financial Conduct Authority has announced plans to ban opt-out selling in financial services markets

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The Financial Conduct Authority has announced plans to ban opt-out selling in financial services markets. Being regulated

Opt-out selling is the practice of defaulting consumers into buying a product which they then have to opt out of, for example by using pre-ticked boxes to sell the consumer add-on insurance.

As much as £108 million a year is paid by customers for unnecessary add-on insurance they don’t need.

About time!

They could ban automatic renewals too.

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