“The industry continues to woefully underestimate the size of this scandal” – Which? response to Barclays £750m extra PPI redress provision.

Which? executive director, Richard Lloyd, said:​​

“We expect that ​Barclays will be the first of several ​big ​banks to set aside millions ​in extra provisions for PPI,​ as the industry continues to ​woefully ​underestimate the size ​of ​this scandal​​.

“It’s wrong that consumers are forced to use alternative routes to get redress, but we’re going to be hearing the same story year after year until the banks do more to resolve claims quickly and fairly.” ​

Notes to editors:

  1. Barclays provision extended by £750m, taking their total to £5.97bn.
  2. The total provision set aside by the big banks is now £25.1bn

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