The Financial Services Authority (FSA) is reported to be in talks with the banking industry to set a deadline for customers being able to claim for mis-sold payment protection insurance (PPI).
The Times reported that the British Bankers’ Association has suggested a deadline of “around next summer” with the banks to agree in turn to financing a widespread advertising campaign to ensure the public is aware of the closing date for claims.
According to the article, the FSA is sympathetic to banks’ concerns that there may never be an end to PPI claims.
An FSA spokesperson told sister title Post: “As you would expect for an issue of this scale and complexity, we have considered a number of options and continue to do so.
"PPI is an on-going and high-profile issue and we are monitoring it closely."
