The Big Four banks are finding it tough to meet their deadline of the end of this month to compensate tens of thousands of customers wrongly sold payment protection insurance(PPI).
Barclays, HSBC, Lloyds and Royal Bank of Scotland are now fighting to clear a backlog of complaints, the Financial Mail reports, with just ten days to go. In particular, many customers will not know exactly how much compensation they are being offered, or see any sign of the money. HSBC says it will send out decision letters ahead of the deadline, but customers might not receive their offers of compensation until four weeks later. Lloyds says it is on track to provide ‘a clear response' to each customer ahead of the deadline. However, only some will get an offer of compensation at ...
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