PPI scandal payouts top £30bn after Arnie warning

Claims for mis-sold payment protection insurance (PPI) hit their highest level in four years during the second half of last year.According to figures from the Financial Conduct Authority (FCA), the number of complaints rose by 40% on the first six months of 2017 to 1.55 million.The City watchdog said compensation for PPI - a loan insurance product - had now cost the financial services industry £30bn in total.