Will credit card insurer compensate after FSA probe?

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Another mis-selling scandal looms, after a Financial Services Authority investigation concluded that credit card insurer CPP has mis-sold credit card and identity protection policies. It ordered the firm to carry out a review into past sales, and where appropriate, compensate customers.

Shares in the firm were suspended yesterday. Last week Barclaycard decided not to renew its contract with the company, having already suspended some sales of CPP products last year, and will now end all others within three to six months. HSBC and Tesco Bank stopped offering CPP products last year.