Card insurer racks up £20m loss

AOL Money Staff

A mis-selling scandal and falling sales sent struggling credit card insurer CPP Group plunging to a £20 million annual loss.

The company, which was last year fined £10.5 million by the Financial Services Authority for ''widespread'' mis-selling, warned it continues to face "significant financial challenges" as it looks for funding.%VIRTUAL-SkimlinksPromo%