Delays to an insurance mis-selling compensation scheme come as the company's founder faces the deadline for a takeover offer. Britain's biggest banks are continuing to haggle over the terms of an insurance mis-selling compensation scheme that has threatened the future of CPP, one of the country's biggest providers of identity theft cover. Sky News understands that some of CPP's biggest business partners, which include the major names in high street banking, are stalling on the details of a plan to pay out as much as £1bn to CPP customers over the next year. The scheme of arrangement, which will see CPP writing to all potentially-affected customers who took out one of its credit card or identity theft policies, was due to have been agreed by the end of May. Insiders said on Thursday that the big banks were disputing some of the proposed details with the Financial Conduct Authority, the City regulator, and that it may not now be operational until next year....Read more here

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