UK Banks’ Scandal Bill Now Costliest Ever

The Titanic

The mounting bill U.K. banks face for payment protection insurance (PPI) mis-selling is now around £12.3bn ($19.8bn), making it the costliest bank mis-selling scandal ever in the UK, according to consumer group Which?.

Barclays Provides Further $1.12bn For PPI Claims

Barclays Bike

Barclays has experienced higher than previously anticipated levels of Payment Protection Insurance ('PPI') claim volumes since the end of the first half, and has therefore determined that it is appropriate to provide a further $1.12bn as at 30 September 2012.