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PPI Misselling Bill At £44B After RBS, Lloyds Reveal Hits

Law360, London (February 26, 2018, 1:21 PM GMT) -- U.K. banks have set aside £44.2 billion ($62 billion) to cover claims for missold payment protection insurance, approximately five times the cost of staging the London Olympics in 2012, new data shows.

Royal Bank of Scotland PLC announced on Friday that it was setting aside a further £175 million for PPI claims, taking its total costs to £5.1 billion, the bank revealed as it unveiled its latest annual report. And Lloyds Banking Group PLC's annual results showed on Feb. 21 that it had earmarked another £600...
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