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CPP mis-selling: Banks and card issuers face £1.3bn bill

22 August 2013 Last updated at 20:01 BST

Seven million people could be in line for hundreds of pounds in compensation after being mis-sold CPP credit card and identity theft protection.

Thirteen banks and credit card firms have agreed to provide up to £1.3bn towards a new compensation scheme.

The Financial Conduct Authority (FCA) said that customers had been "given misleading and unclear information" about CPP Group's policies.

Business correspondent Joe Lynam reports.

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