The billion dollar question: PPI payouts could have £1bn shortfall

One expert, commissioned by the BBC, estimates it could amount to "somewhere in the region of £1bn". The customers potentially affected had PPI on credit cards issued by Lloyds Banking Group, Barclays, MBNA and Capital One. All claim to make every effort to pay a correct amount of compensation. The extent of the shortfall is difficult to assess. The shortfall in compensation arises because, although these banks all refunded the premiums on their mis-sold PPI policies plus interest as regulators require, they have been failing correctly to refund additional charges which were tri...