|Investment Property Worldwide.com||
The Financial Services Authority (FSA) announced today that Lenders paid out £570.5 million in compensation during April to victims of payment protection insurance (PPI) mis-selling.
This is the largest overall monthly pay out and pushes the total paid out since January 2011 to £4 billion. But with an estimated £9 billion of compensation due in total, the process is far from over.
Last month, Lloyds Banking Group, RBS and HSBC set aside £800 million extra between them, on top of their original pots to pay out from. Barclays also set aside an extra £300 million in April.
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