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


Lloyds and Virgin ban customers from buying Bitcoins

Lloyds Banking Group (LBG) and Virgin Money have banned their customers from buying Bitcoins with their credit cards.

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Lloyds axes more than 900 jobs

Lloyds axes more than 900 jobs

Lloyds Banking Group (LBG) has announced the axing of more than 900 jobs in the latest phase of its shake-up across the business.

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RBS to close one in four branches

RBS to close one in four branches

Royal Bank Of Scotland (RBS) has announced the closure of 259 branches and the axing of 680 jobs, blaming the growth of online banking for the move.

The number of closures have so concerned Scottish business minister Paul Wheelhouse that he has urged the UK government to take steps to ensure that communities have access to day-to-day banking services.Read More


Three UK banks hit with new LIBOR allegations

Three UK banks hit with new LIBOR allegations

Three of Britain’s biggest banks have been hit by what is potentially the biggest LIBOR lawsuit to date by the US government.

The Federal Deposit Insurance Corporation (FDIC) has alleged that Lloyds Banking Group (LBG), Barclays and Royal Bank Of Scotland (RBS) played a part in the collapse of 39 US banks worth more than $400 billion.Read More


What is PPI and why could it be important to you?

What is PPI and why could it be important to you

The initials PPI have become part of the British way of life in recent years with millions of people claiming billions of pounds because it was mis-sold to them.

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How many PPI claims remain to be made?

How many PPI claims remain to be made?

As the UK’s financial regulator adds last minute touches to a £42 million advertising campaign on the PPI claims deadline, how many more mis-selling claims will the banks have to face until the final curtain?

A total of £27.4 billion has already been paid out on around 18.4 million claims, with the banks setting aside a further £10 billion to pay future claims.Read More


Just 5% of bailout left to be recovered

Just 5% of bailout left to be recovered

New figures show that just 5% of the huge cost of the UK’s bailout of the country’s financial system in 2008 remains to be recovered.

A total of £1.13 trillion was paid out by the Labour government to rescue the British financial industry and keep them going through the credit crunch and recession which followed the crash.Read More


Lloyds add over £1 billion to PPI pot in six months

Lloyds Banking Group (LBG) have added £1.05 billion to their PPI provision in just six months and admitted even that may not be enough.

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Lloyds sale makes £894 million profit

Lloyds Bank has finally been re-privatised and the sale of the last few shares made them a £894 million profit on the deal.

The government sold its last block of taxpayer-owned shares nine years after Lloyds Banking Group (LBG) was bailed out with £20.3 billion for a 43.4% stake in the bank.

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