A purse and money
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Call for 'simpler' financial products

Financial products should be simpler with more transparent pricing, according to a new report.

The recommendations have been put together by a steering committee under Carol Sergeant, the former head of risk at Lloyds - which has made the biggest provisions for compensation for PPI mis-selling.

The first set of products are an easy access savings account, a 30-day savings account, a regular savings account and fixed-term life insurance product.

First broadcast on BBC Radio 4's Today programme on Wednesday 13 March 2013.