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RBS Q3 earnings hit by insurance provision

By Robert Barr
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LONDON (AP) — Part-nationalized Royal Bank of Scotland posted a third-quarter loss as it boosted its provision for compensating customers who bought payment protection insurance and took a hefty charge related to its debt.

The company, 82 percent owned by British taxpayers, set aside another 400 million pounds ($644 million) Friday to compensate customers who were mis-sold insurance, raising the total provision to 1.7 billion pounds.

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