From Mr Trevor Griffiths.

Sir, Interesting to note that a major contributor to record UK car sales last year (, January 6) was the roughly £11bn of compensation paid out by the banks in relation to the mis-selling of payment protection insurance. I wonder if the banks would have got very far selling a savings account described as a seven-year scheme to help you buy a car. And whether the Financial Services Authority would have allowed them to.

Trevor Griffiths, Messels Ltd, Sevenoaks, Kent, UK

Get alerts on Letter when a new story is published

Copyright The Financial Times Limited 2018. All rights reserved.