HSBC has become the third of the big four UK banks to add millions of pounds to its PPI compensation pot AFTER the claims deadline in August.
HSBC has joined Lloyds Banking Group (LBG) in setting aside another £½ billion to pay out future successful PPI claims with less than a month to go to the claims deadline.
HSBC has become the latest bank to pay a multi-million dollar settlement to American regulators to conclude its involvement in the mis-selling of toxic mortgage investments in the lead up to the financial crisis of 2008.
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
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