Weekend reports claim Barclays is set to abandon its legal battle over PPI mis-selling

BARCLAYS is set to follow its rival Lloyds Banking Group and abandon its legal fight over the mis-selling of payment protection insurance (PPI), it was reported yesterday.

The group is expected to announce this week that it will not appeal a High Court decision on the issue, paving the way for thousands of customers who were mis-sold the policies to receive compensation.

The final bill for compensating consumers could reach £8bn.

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