PPI ruling 'may mean compensation'

The British Bankers' Association has lost a High Court challenge brought over new regulations to control the selling of PPI - payment protection insurance.

The rules were introduced last year by the Financial Services Authority (FSA).

Nearly three million people who believe they have been mis-sold the insurance are hoping to claim compensation.

The banking group says it is "disappointed" with the judgement and is deciding whether to apply for permission to appeal.

The editor of Which? magazine, James Daley told the BBC he hopes the banks will now start processing the claims and said people can still complain to the FSA.

BBC News