Correspondence
CMA letter to Nationwide about a breach of the PPI Order
Letter to Nationwide Building Society (Nationwide) about its non-compliance with the Payment Protection Insurance (PPI) Market Investigation Order 2011.
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The CMA wrote to Nationwide about a breach of the PPI Order. Nationwide failed to send Annual Reviews to 3,053 Mortgage Payment Protection Insurance customers by the due date. It has sent an apology letter to all impacted customers with the offer of a refund of premiums. Affected customers who choose to cancel their policy and receive refunds of premiums will also receive 8% compensatory interest.