Helen Nugent

Payment protection insurance, nuisance calls and pensions

Big banks are expected to take another £2 billion hit on payment protection insurance this week because of the longer time allowed for new claims, according to The Times. Lenders will make the provisions with quarterly results that will be scrutinised for the impact of Brexit on the economy, while the weakening pound and heightened market activity will also have an affect on results. The new PPI bill is a blow for banks, which had thought that the end was in sight for Britain’s largest mis-selling scandal when the Financial Conduct Authority said in June that it was minded to back their calls for a cut-off for compensation. The FCA has put the deadline at mid-2019, not 2018 as the industry had hoped. Nuisance calls

Company directors could be fined up to £500,000 if their business is behind nuisance phone calls, under government moves to clamp down on the problem.

The law is to be changed in Spring 2017 to make directors personally liable for breaches of regulations. At

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