Consumers mis-sold payment protection insurance (PPI) have received £215m of compensation this year, according to the Financial Services Authority (FSA).

The cash was paid out by 16 unnamed firms, representing 92% of PPI complaints made between January and June this year.
The payouts follow the dismissal by the High Court of the banks' challenge to the PPI compensation rules in April. In May and June alone, £102m was paid out to customers. The monthly totals for the first six months of the year were: £29m in January, £31m in February, £28m in March, £25m in April, £37m in May, and £65m in June.

Compensation bill

A string of High Street banks have set aside cash to settle PPI complaints. Lloyds' £3.2bn PPI compensation bill is the largest of any UK bank. Barclays is setting aside £1bn, RBS £850m and HSB.....Read more on this story---> BBC News - PPI mis-selling payouts hit £215m in first half of 2011