BBA abandons PPI challenge

Last month, the High Court ruled banks must look again at hundreds of thousands of PPI cases, rejecting a judicial review brought by the BBA against the FSA. The BBA had indicated it may appeal but today's decision to admit defeat means consumers could be in line for billions in payouts for being mis-sold the policies. In a statement, the BBA said: "In the interest of providing certainty for their customers, the banks and the BBA have decided that they do not intend to appeal. "We continue to believe there are matters of important principle which we will be taking forward in other ...