Banks pay £482m interest swap redress; hundreds of customers yet to opt-in

The banks, mainly Barclays, HSBC, Lloyds and the Royal Bank of Scotland (RBS), have already completed all of their initial claim assessments and have asked 18,800 customers to join the review. Around 1,900 customers have yet to opt-in. The regulator's monthly update said banks were becoming faster at processing the reviews and were on track to achieve their 12-month time limits for completion. So far 3,430 offers have been accepted and no redress was due in 962 cases. The rate of non-compliant sales stood at 96%. It is projected that all redress for consumers who have opted in to t...