MPs to grill bank bosses over PPI mis-selling

Banks are set to face a parliamentary sub-panel over the payment protection insurance mis-selling scandal, according to reports.

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by Michelle Abrego on Jan 08, 2013 at 11:03

MPs to grill bank bosses over PPI mis-selling

Banks are set to face a parliamentary sub-panel over the payment protection insurance (PPI) mis-selling scandal, according to reports.

According to Sky News, Britian’s major banks have been ordered to submit the names of the executives who were directly responsible for PPI sales practices.

The lists could include the names of former executives, even if they left the banks years ago, it said.

The Parliamentary Commission on Banking Standards, which is led by MP Andrew Tyrie (pictured), has established a panel on mis-selling and cross selling.

The sub-panel will be led by Treasury Select Committee chairman John McFall, and includes former cabinet secretary Alan Turnbull, MP Pat McFadden, MP Mark Garnier, and MP Andrew Love.

City AM reported that representatives of the RBS, Halifax, Barclays and HSBC would face the panel. The paper also said that it could possibly call in Barclays chief executive Antony Jenkins, along with other top executives involved in the retail side of the banks, which sold PPI.

The four banks have so far put aside a total £10.8 billion for PPI provisions and it is set to hit £25 billion.

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3 comments so far. Why not have your say?

I cannot abide banks of today, but more importantly I find that institutions that are to be interrogated by a bunch of cheats worse.

The cheats in question are the politicians, who escaped en-mass from their despicable cheating of their expenses. That is apart from their many other dishonest cover ups.

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Shouldn't it be Andrew Turnbull, not Alan Turnbull?

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derek farman

Jan 08, 2013 at 15:52

Seems these days everyone is trying to flog you stuff you do not want or need.

Banks, spam emails, unwanted phone calls etc etc.

Is there no end to it.

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