PPI payouts heading for £11 billion mark
FCA figures show no sign of slowing as banks step up provisions for payouts
Figures due to be released soon by the UK Financial Conduct Authority (FCA) could bring the total cost of mis-sold payment protection insurance (PPI) close to – or even more than – £11 billion.
By May this year – the latest date for which the FCA has provided figures – the total had reached £10.468 billion. And, with the payments for the past six months close to around an average of £405 million a month, the June figures, due to be released soon, would bring the total to roughly £10.9 billion –
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