PPI Provisions Increase – But are they Correct?

Posted by & filed under Banks, Lloyds PPI Claim, PPI, PPI Deadline, PPI Scandal.

Just as schools break up, even the banks result reporting season begins. Reviewing the quantity of media comments with respect to the first bank to proclaim its results, Lloyds Banking Group (LBG), recommends that whoever thinks emptied offices and school holidays are good to “bury bad news” must think again.   Though many media commentators… Read more »

Lloyds Bank to Refund £300m to 600,000 Customers for PPI and Mortgage Arrears Failures

Posted by & filed under Banks, Financial Regulators, Lloyds PPI Claim, PPI, PPI Scandal.

Lloyds Banking Group has taken nearly a £1 billion hit after revealing it will refund customers for failing to handle mortgage arrears policies and has set aside additional money in order to address the mis-selling of Payment Protection Insurance (PPI).   The provider estimated that it’ll have to shell out roughly around £283 million so… Read more »

How Was An Extra Claim Set Aside For Lloyds PPI Refund?

Posted by & filed under Banks, Lloyds PPI Claim, PPI, PPI Refund.

After the disastrous PPI mis-selling scandal, Lloyds Banking Group decided to set aside £350 million in order to cover the claims for PPI mis-sold to their customers. The bank further made additional provisions after the Financial Conduct Authority declared that the deadline for making new PPI complaints would be August 2019. Since there was an… Read more »