PPI mis-selling claims deadline: Britain’s biggest banking scandal could soon be coming to an end

Caitlin Morrison
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The FCA is expected to discuss the possibility of a deadline for PPI claims
The end of the £25bn payment protection insurance (PPI) mis-selling scandal could be in sight, with the Financial Conduct Authority (FCA) set to meet today to discuss potentially imposing a deadline for claims.

The regulator’s management will discuss the possibility of a ‘time-bar exercise’ during a board meeting today, according to Sky News.

Banks will welcome the idea of a deadline for PPI compensation claims. In 2011, the banks lost a judicial review hoping to stop claims for past mis-selling.

They have paid out over £20bn in the last four years – in 2011, estimates had pointed to a £4.5bn bill.

The FCA declined to comment yesterday.

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