PPI

HSBC's shares have fallen more than 1.5% this morning after the bank revealed profits fell by $806m in Q1, driven down by $440m (£268m) PPI provision.

It was about eight years ago when I, a young man who should nevertheless have known better, fell victim to banks’ inexhaustible efforts to flog PPI to anyone and everyone.

The British Bankers' Association (BBA) has drawn a line under its legal fight to avoid PPI mis-selling payouts.

Barclays has abandoned its legal challenge against PPI mis-selling and set aside £1bn to cover customer redress and administration costs.

Despite yet another truncated week, there was plenty going on in the world of financial advice...

Banking shares led the FTSE 100 lower late morning after Lloyds Banking Group revealed it had set aside £3.2bn to compensate customers for missold payment protection insurance.

Nationals round-up: Interest rates are on the agenda this week while clients may also be taking an interest in income protection, private banking and cars.

At the time of writing, the banks are mulling whether to mount an appeal after they lost their judicial review against an FSA ruling on payment protection insurance (PPI).

The High Court today ruled banks must look again at hundreds of thousands of PPI cases, following an unsuccessful judicial review by the British Bankers Association (BBA) against the FSA.

Can you see a change in focus for the FSA's replacement, following its renaming to the Financial Conduct Authority (FCA), rather than the previously suggested Consumer Protection and Markets Authority (CPMA)?