I read them less as proposing it should be mandatory and more as proposing it should be opt-out.

To quote from RichardKennaway's comment

This is an existing structure, perhaps too much so. In the UK it is called Payment Protection Insurance. The problem with PPI is that it was sold under pressure to people who did not need it. The fallout from that has cost some banks billions, or rather, it has forced them to give back billions they should never have received.