Though Barclays Bank has announced it believes the £360 million it has left in its PPI pot will be enough to pay all future successful claims it has not ruled out having to add more in the future.
Figures just released by Barclays show that they expect to pay another £900 million in PPI compensation.
The High Court has refused an attempt by the Serious Fraud Office (SFO) to re-instate charges against the bank for alleged unlawful dealings with Qatar at the height of the 2008 financial crisis.
Just days after their chairman claimed Britain’s PPI scandal had turned portions of the country into fraudsters, Barclays have admitted that they wrongly told tens of thousands of customers that they did not have PPI.
The number of consumers using their smartphones to run their bank accounts has soared in recent years.
Together with internet banking, they have been blamed by many of the high street banks for the need to close branches across the country as customers change the way they handle their money.Read More
Barclays has agreed a $2 billion settlement over claims it fraudulently sold sub-prime mortgage-backed securities in America in the lead-up to the financial crisis of 2008.
The bank did not admit liability in the case which alleged it had mis-led investors over the quality of the loans backing the securities.Read More
Claims for mis-sold PPI against Barclays Bank soared by 16% in 2017.
Total claims received have now topped 2.1 million – 300,000 up on the previous year – and the bank has paid out a total of £7.6 billion in compensation for successful PPI claims.Read More