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Cummings hails regulation of claims firms as victory for AMI

Chris Cummings has hailed the upcoming regulation of claims management firms on April 16 as a lobbying victory for the Association of Mortgage Intermediaries.

In his opening speach at the Financial Services Scotland conference, held in Glasgow today, Cummings hit out at the “ambulance chasing brigade” and praised the upcoming regulation set to hit them.

He told delegates that AMI’s sights was currently focussed on the Financial Ombudsman Service and is campaigning against the “morally wrong” case fees brokers currently have to pay, even when FOS rules in their favour.

Cummings says the aim of the trade body is that good intermediaries are never by case fees again.

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