Shares in Lloyds, Royal Bank of Scotland and Barclays fell as banks brace for three years of further mis-selling claims
The Financial Conduct Authority has extended its proposed deadline for payment protection insurance claims by more than a year in a move that may force banks to set aside more money for the scandal.
The FCA said it intended to impose a deadline on new claims to draw a line under the PPI affair, which has dogged the industry for a decade and cost the banks more than £30bn.
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