Banks pay £158m swaps compensation

Press Association
Blue plastic money box in the shape of the UK pound sterling symbol, with the Union Jack flag on the front. Studio shot against
Blue plastic money box in the shape of the UK pound sterling symbol, with the Union Jack flag on the front. Studio shot against

%VIRTUAL-SkimlinksPromo%Banks have increased the pace of granting compensation to small businesses over allegations that they were mis-sold complex financial products, with pay-outs reaching £158.6 million in December.

It means the total nearly doubled in just a month, after standing at £81.2 million at the end of November, according to figures from the Financial Conduct Authority (FCA).