FSA has agreed an extension of time so three major banking groups can deal with their high volume of Payment Protection Insurance (PPI) complaints. FSA has placed strict conditions on the extension, which gives the firms until the end of August to deal with complaints that were stayed for the judicial review, 16 weeks to deal with complaints received between the judgment and the end of August, and 12 weeks to deal with complaints received between September and December 2011. The agreement applies only to specific firms. (Source: FSA Grants Extra PPI Complaint Handling Time)