PPI Mis-selling

The big Banks in Britain are drawing up plans to set aside billions of pounds for PPI mis-selling as the City regulator get ready to introduce in a two-year deadline for claims.

High street lenders are said to announce large provisions in their annual results that will take the total cost of the scandal to well over 30bn.

The main banks:

Barclays

Lloyds

Royal Bank

Santander

Are said to have racked up at least £5bn as well as £27bn then already had. The numbers are not exact but will be much more according to some sources.

Bank leaders are keen to draw a line under the PPI scandal which has been the biggest financial outrage in UK banking history.

www.ppi.co.uk

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