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Barclays responds to the Competition Commission's provisional decision on remedies for PPI

In response to the Competition Commission's provisional decision on remedies for the payment protection insurance (PPI) market published today, a Barclays spokesperson said:

"Barclays supports informed consumer choice and transparency. To that end, we believe that overall the remedies package proposed by the Competition Commission will make it less convenient for customers to secure the cover that is right for them.

"In the current economic climate it is more vital than ever for customers to have access to a range of protection options. PPI is a product of value to numerous people at a time when many are vulnerable to changes in their circumstances and Barclays PPI is one of the most comprehensive on the market, recognised by Defaqto with awards of five stars for its quality of cover."