U.K. Eyes End to the Nation's Costliest Banking Scandal: Chartby
The U.K.’s biggest lenders could be approaching the end of the nation’s costliest banking scandal since the financial crisis.
The final charge for wrongly sold payment protection insurance could become clearer to banks if Britain’s Financial Conduct Authority imposes a two-year deadline for consumers to make a claim, a move currently under consideration. Lloyds Banking Group Plc is the biggest culprit, having set aside almost 14 billion pounds ($20 billion) to date to compensate clients that bought the products.