As expected a number of banks have followed the decision of LLoyds Banking group not to continue their legal battle to obstruct ppi claims. Today Barclays, HSBC and Royal Bank of Scotland (RBS ) and have joined Lloyds and set aside provisions to pay out current and future ppi claims. Barclays has set aside a provision of £1bn and HSBC has set aside £269m respectively. Tax payer backed RBS has not released official figures yet but experts estimate that over £1bn will be set aside for PPI claims.

Other lenders and stand alone credit card companies are expected to soon follow suit with the lending institutions finally after giving up the fight against PPI claims. This is a great day for consumers as banks and lenders now must start to process PPI claims which have been on hold for the last number of months whilst the high court case was being fought. It is estimated that there are in excess of 20 million mis-sold PPI policies in the uk. Some figures have estimated the actual number to be somewhere closer to 60 million. There has never been a better time to process ppi claims then right now. If you have any doubt on whether you have been mis-sold PPI now is the time to check.