I try to avoid the Mail on Sunday because Sunday mornings are generally sporting affairs in our house.

Today, I was alerted to the incredible article in the Mail outlining the views of John McFarlane, Chairman of Barclays Bank.

Let's just roll back a second and consider the following excerpt from the 2013 report of the Parliamentary Commission on Banking Standards, 'Changing Banking for Good':

Simon Evans, Chief Executive of the Alliance of Claims Companies commented:

“It is quite disingenuous of payday lenders to point the finger of blame at Claims management companies as the fallout from the Wonga collapse continues.

With the publication of the latest set of complaints data from the FOS clearly showing a growing trend of claims against these payday lenders, we clearly need a balanced viewpoint when understanding why this is the case.

As reported by Law360, The Financial Conduct Authority set out draft proposals for U.K. lenders on Wednesday (4 July 2018) on when they should reveal high commissions charged on payment protection insurance after a potentially game-changing court decision that could force banks to pay billions of pounds in additional compensation. The regulator acted after Manchester County Court ruled on June 26 that a personal finance company must repay in its entirety a 76 percent commission, plus interest, to two customers who paid the sum unwittingly.

Also reported in The Mirror, Britain's banks could face another £18billion in PPI payouts after a court granted one couple a significant amount, against regulator rules. Christopher and Joanne Doran have been handed a total of £17,345 by Paragon Personal Finance after a judge said they should be awarded all of the commission they paid plus interest on their loan.

As reported in The Guardian, Britain’s banks face the threat of a huge new PPI bill that could add billions of pounds to the £30bn already paid out in compensation, following a court ruling lauded by claims management companies as “hugely significant”.