Lloyds to apportion significant funds for PPI claims.
Global Banking News-July 31, 2015--Lloyds to apportion significant funds for PPI claims
(C)2015 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 31 July 2015
Lloyds Bank may have to apportion a significant amount of funds for settling PPI claims.
Last month, the bank was fined a record GBP117m by the Financial Conduct Authority (FCA) over the mis-sold PPI. The bank has set aside a further GBP1.4bn to compensate customers who were mis-sold payment protection insurance.
The bank said it had identified about 1.2 million previously defended PPI complaints for re-review at the end of 2014. That had now increased to 1.4 million cases.
[Editorial queries for this story should be sent to firstname.lastname@example.org]
((Distributed via M2 Communications - http://www.m2.com))