Summary
THE financial sector paid out pounds 215m in compensation to victims of the payment protection insurance (PPI) mis-selling scandal in the first half of the year, the City regulator has confirmed.
The industry returned pounds 102m in May and June after the British Bankers' Association (BBA) lost its High Court challenge against PPI compensation rules being applied retrospectively, the Financial Services Authority said. The figures, published to allow firms and consumers to keep tabs on the progress being made with compensation, are based on 16 firms, representing 92% of PPI complaints made in the six months to June.See the full content of this document
Extract
Ppi Mis-Selling Bill Hits Pounds 215m ... And Counting
Huge levels of PPI redress are expected in the coming months as Lloyds Banking Group se...
See the full content of this document
Sponsored links
