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However, the news should be a wake-up call to consumers who have policies languishing in ancient funds.
Today is a wake-up call to consumers and the payments industry.
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Guy Anker, managing editor at MoneySavingExpert.com, said: "The urgent clarion-call to consumers is if you've had a loan, credit card or mortgage in the last 10 years you should be checking now whether you had PPI on it and if so, was it mis-sold?
Some collectors have been known to use predatory practices like threats and incessant calls to consumers' homes and workplace.
"We saw the technology had changed, the volume of calls to consumers had increased," said K. Dane Snowden, head of the F.C.C.'s consumer and governmental affairs bureau.
The Federal Trade Commission issued proposed rules yesterday restricting telemarketing calls to consumers, including plans for a nationwide registry of people who do not want to receive such sales calls.
And they assert that with $100 billion in sales generated from calls to consumers last year, many Americans clearly respond favorably to phone pitches.
Complicating matters, AT&T must also pay billions of dollars in fees to local phone companies that deliver the calls to consumers.
For instance, Sears will make no telemarketing calls to consumers to peddle product repair services or warranty protection agreements -- and will even suspend calls to collect on overdue credit card bills.
One advertiser not changing its plans is Alliance Capital, which since February has run ads intended to deliver wake-up calls to consumers who believe they can increase their retirement nest egg by playing the market with their savings.
AT&T, the No. 1 U.S. long-distance telephone carrier, filed a lawsuit seeking documents from federal regulators to clear charges it illegally made telemarketing calls to consumers against their wishes.
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