LONDON Dec 9 Britain's financial watchdog has
delayed its final decision on setting a deadline for consumers
to claim compensation for mis-sold loan insurance.
Banks including Lloyds and RBS have
collectively paid out 24 billion pounds ($30 billion) in what
has become Britain's costliest financial services scandal.
The Financial Conduct Authority (FCA) launched a
consultation in August on whether to set June 2019 as the
deadline for people to make a claim for mis-sold payment
protection insurance (PPI), and was to decide by the end of this
year on whether to proceed with this.
On Friday, it said this decision has now been deferred until
the first quarter of 2017, which could push back the final
deadline for claims.
The FCA said its final decision was subject to a number of
"variables", including the extent and nature of the feedback
received in response to the consultation.
"We have received a large amount of feedback and, given the
importance of this matter, we are carefully considering the
issues raised and will make a further announcement in the first
quarter of 2017."
($1 = 0.7954 pounds)
(Reporting by Huw Jones; Editing by Rachel Armstrong)