CMA writes to NewDay on PPI Order breaches

The CMA has written to NewDay Ltd about 5 breaches of the PPI Market Investigation Order 2011. The breaches, which have affected c.27,000 customers, relate to:

• NewDay’s failure to issue Annual Review statements to customers;
• NewDay issuing Annual Review statements containing incorrect information; and
• NewDay’s failure to appoint a PPI Compliance Officer when it acquired its PPI book in 2013.

NewDay has issued apology letters to all impacted customers with the offer of a refund of premiums.