Barclays Sets Aside Another £1.4B For Misselling Claims

Law360, London (October 25, 2019, 1:17 PM BST) -- Barclays announced Friday it has set aside a further £1.4 billion ($1.8 billion) for wrongly selling payment protection insurance after a flood of claims in the run-up to the August deadline for seeking compensation, taking a chunk out of the lender’s latest profits.

The lender had already warned that it would have to put aside extra provisions to cover last-minute claims. But Barclays PLC boss Jes Staley has admitted that the bank was still surprised by the “avalanche” of complaints.

“We were not expecting a provision of close to £1.5 billion to settle the final PPI claims — and imagine our...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!