Directors of the City regulator will hold crunch talks later about the imposition of a deadline which would draw a line under the £25bn payment protection insurance mis-selling scandal.
Sky News has learnt that the Financial Conduct Authority (FCA) will discuss the merits of a so-called time-bar exercise as part of a scheduled board meeting.
The board meeting will come four months after the watchdog raised the spectre of a fresh deluge of compensation claims as a consequence of a landmark legal ruling at the Supreme Court last year.
Bank executives have warned that the implications of a case brought by Susan Plevin
- which centred on a company's failure to disclose to her a large commission payment on her PPI policy
- could be catastrophic for the industry.
https://uk.news.yahoo.com/watchdog-crunch-talks-25bn-ppi-cut-off-213150769--finance.html#6cfwso4