The Financial Services Authority says banks mis-sold specialist insurance on loans known as interest rate swaps to thousands of small businesses.
The FSA said it had found "serious failings" in the sale of these products which were meant to protect businesses against rising interest rates.
The FSA said it had reached agreement with four banks over providing "redress".
The banks are Barclays, HSBC, Lloyds and RBS.
Source & Image : BBC
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