Interest rate mis-selling payouts hit £1.5bn for banks

FCA publishes details of compensation paid by nine UK banks

Money and a gavel

Settling thousands of cases of mis-sold interest rate products has so far cost UK banks £1.54 billion, according to the UK Financial Conduct Authority (FCA).

The financial regulator has released data showing progress in the review of mis-sales to date, illustrating the extent of the compensation paid out and the breakdown of affected customers.

Compensation costs to banks, including RBS and Barclays, are likely to keep rising as cases continue to be addressed. Since March this year more than a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: