Almost all major banks and the British Banking Association (BBA) have now come to the realisation that they have to pay out the claims. Even though there seemed to be some difference in opinion amongst the major banks within the BBA whether to appeal against the High Court decision of 20th April which passed the judgement on the Payment Protection Insurance (PPI) against the banks, post the announcement by Lloyds Banking Group (LBG) which had the lion share of the PPI mis-selling, all banks have followed suit.

 

For the last 3 weeks, the PPI story has been dominating the headlines of most of the financial press, so what