24th Sep 2015 11:05
LONDON (Alliance News) - Directors of the Financial Conduct Authority will hold crunch talks about the imposition of a deadline to draw a line under the GBP25 billion payment protection insurance mis-selling scandal, Sky News reported.
The report said the city regulator will discuss the merits of a so-called time-bar exercise as part of a scheduled board meeting.
Banks have already set aside close to GBP30 billion for PPI compensation, with the state-backed Lloyds Banking Group responsible for almost half that sum.
http://news.sky.com/story/1557850/watchdog-in-crunch-talks-on-25bn-ppi-cut-off
Lloyds was one of the best performers in the FTSE 100 Thursday, trading up 1.6% at 74.10 pence.
By Neil Thakrar; [email protected]; @NeilThakrar1
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