Banks shares plunge after Lloyds' £3.2bn PPI bill
Banking shares led the FTSE 100 lower late morning after Lloyds Banking Group revealed it had set aside £3.2bn to compensate customers for missold payment protection insurance.
The admission by Lloyds - followed by confirmation the bank is pulling out of the judicial review launched by the British Bankers' Association (BBA) to challenge the FSA's ruling on PPI redress - weighed...
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