Yet another claim on banks: mis-selling of SME insurance.

Guardian: “Britain’s big four high street banks could be forced to pay millions of pounds in compensation to small businesses, after the main City regulator found they mis-sold complex insurance products in more than 90% of cases.”“As many as 40,000 so-called interest rate swaps could have been mis-sold to small businesses in the latest scandal to hit the banking industry. ….Three of Britain’s biggest banks – Barclays, HSBC and Royal Bank of Scotland – have already set aside about £630m to cover the cost of potential mis-selling claims, and the upcoming round of annual results will reveal the latest provisions in the industry. Lloyds has yet to make a statement on potential costs.”