Britain sets 2018 deadline for claims in country's costliest bank scandal

November 26, 2015 12:40 PM

38 0

Britain sets 2018 deadline for claims in country's costliest bank scandal

LONDON Britons who were missold loan insurance, in what turned out to be the country's costliest consumer finance scandal, will have until 2018 to claim compensation under regulatory plans intended to draw a line under the issue.

Britain's banks, which have already set aside more than 28 billion pounds ($42 billion) to cover payment protection insurance (PPI) complaints are also keen to close the issue. Lloyds Banking Group (LLOY.L) alone is accounting for about half the total compensation payments.

Also read: Trump Picks Steve Mnuchin To Lead Treasury Department

Read more

To category page

Loading...