Barclays' PPI claims rise by £900m as profits fall

Rising mis-selling claims come amid a sharp fall in investment bank profits and additional scrutiny by US authorities

The cost of the payment protection insurance scandal escalated again on Wednesday as Barclays took another £900m provision to cover the costs of compensating customers mis-sold the insurance product.

The additional provision takes Barclays' total bill for claims to £4.8bn. The bill for the industry as a whole is estimated by consumer body Which? to have already topped more than £20bn.

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via Business Feeds

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