Throwback Thursday: Brokers lambasted by PM
Insurance Post’s Throwback Thursday steps back in time to May 1981 to remind you what was going on this week in insurance history when a former prime minister was complaining about brokers.
28 May 1981: PM’s rogue broker warning
Former Prime Minister Harold Wilson warned “rogue brokers” were still operating despite the fact the Consumer Credit Act was supposed to have “killed them off.”
Wilson made his remarks at Corporation of Mortgage, Finance and Life Brokers lunch held at the Savoy in London.
He added dodgy brokers also continued to exist despite the corporation having been in place as a “consumer watchdog” for 13 years.
The Labour Party politician twice served as prime minister of the UK: from 1964 to 1970 and again from 1974 to 1976.
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