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FCA in 'constant communication' with banks over PPI payouts

5 June 2014 Last updated at 10:15 BST

The Financial Conduct Authority (FCA) remain in "constant communication" with banks over the compensation received by customers for mis-sold Payment Protection Insurance, its director of supervision Clive Adamson has said.

His comments come amid claims that Lloyds Banking Group, Barclays, MBNA and Capital One may have underpaid compensation, which he said the FCA would aim to investigate.

The banks involved say they make every effort to pay a correct amount of compensation.

First broadcast on BBC Radio 4's Today programme on Thursday 5 June.