Banks and other financial firms sold around 64m PPI policies from 1990 to 2010. In recent years, many of the lenders have had to pay back huge amounts of money as compensation to those who were mis-sold PPI. However, many millions of people that may be entitled to compensation have not claimed or even checked whether they had been mis-sold PPI. So, in anticipation of a rise in PPI claims before the FCA deadline, the big bank’s have all increased their existing provisions to compensate many more victims of the mis-sold PPI scandal. These recent increases bring the total provisioned to over £40bn.