Lloyds add another £100 million for PPI

Lloyds add another £100 million for PPI

With just four months to go before the PPI claims deadline Lloyds Banking Group (LBG) have added another £100 million to their PPI compensation pot.

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Lloyds to pay customers £6 million compensation

LBG to pay customers £6 million compensation

Lloyds Banking Group (LBG) is to pay 200,000 customers around £6 million for denying them seven years of interest payments.

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Lloyds PPI pot – £1.3 billion left

Lloyds PPI pot - £1.3 billion left

Lloyds Banking Group (LBG) still has £1.3 billion left to pay successful PPI claims before the August claims deadline.

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Lloyds cuts 6,000 jobs but creates 8,000

6,000 jobs to go at Lloyds – and 8,000 to be created

Lloyds Banking Group (LBG) – Britain’s biggest high street lender – is planning to axe 6,240 jobs as part of a £3 billion restructure, but will then create 8,240 new posts to run a newly digitised operation.

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Barclays is third bank to raise PPI provision

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Barclays has become the third UK high street bank to increase its PPI provision within a week.

The announcement of a £400 million increase in the amount of money set aside to pay future successful PPI claims follows the £350 million announced by CYBG (the former Clydesdale and Yorkshire Bank) and the £90 million increase by Lloyds Banking Group (LBG).Read More


Lloyds adds another £90 million for PPI

Lloyds adds another £90 million for PPI

Lloyds Banking Group (LBG) has added another £90 million to its PPI provision as the number of new PPI claims continues to rise.

The latest increase comes on top of more than £18 billion it has set aside to pay successful claims since January 2011 – more than half of the overall total paid out by the finance sector so far.Read More


Lloyds Banking Group to close 49 more branches

Lloyds Banking Group to close 49 more branches

Lloyds Banking Group (LBG) has announced the closure of 49 more branches – 41 with Lloyds and the remaining eight with Halifax – with 1,230 jobs affected.

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Is FOS solely to blame for PPI backlog?


Is FOS entirely to blame

The Channel 4 Dispatches programme highlighted major problems with the handling of financial appeal cases by the Financial Ombudsman Service (FOS), alleging poorly trained staff making wrong decisions on appeals and favouring the banks above the consumer.

After an undercover reporter infiltrated FOS’s training programme and found some staff had to Google a financial product after being asked to make an appeal judgement on a case.Read More


Barclays PPI claims 16% up in 2017


Claims for mis-sold PPI against Barclays Bank soared by 16% in 2017.

Total claims received have now topped 2.1 million – 300,000 up on the previous year – and the bank has paid out a total of £7.6 billion in compensation for successful PPI claims.Read More


Lloyds adds another £600 million for PPI


Lloyds adds another £600 million for PPI

Lloyds adds another £600 million for PPI

Lloyds Banking Group (LBG) have added another £600 million to their PPI compensation pot, taking the total set aside so far to £18.6 billion – more than half the total set aside by the whole industry.

The increase was needed because the bank had underestimated the number of new PPI claims they would receive following the announcement of the 2019 claims deadline.Read More