Correspondence
CMA letter to NewDay Ltd about 5 breaches of the PPI Order
Letter to NewDay Ltd about its non-compliance with the Payment Protection Insurance (PPI) Market Investigation Order 2011.
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The Competition and Markets Authority (CMA) wrote to NewDay Ltd about 5 breaches of the PPI Order. The breaches relate to failure to issue Annual Review statements to customers and incorrect information provided in Annual Review statements to PPI customers. NewDay also failed to appoint a PPI Compliance Officer when it acquired its PPI book in 2013. The breaches have affected approximately 27,000 customers. NewDay Ltd has sent an apology letter to all impacted customers with the offer of a refund of premiums.