
Lloyds fined £4.3m for delayed PPI redress payments

Lloyds TSB Bank, Lloyds TSB Scotland and Bank of Scotland have all been punished by the Financial Services Authority (FSA) for "failings in their systems and controls" that resulted in up to 140,000 delayed customer repayments.
The FSA ruled that between May 2011 and March 2012 LBG failed to repay complainants within 28 days of making a decision.
Of the 582,207 customers, 140,209 - nearly a quarter - received payment after 28 days.
In fact, some 8,800 complainants were not paid within six
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Most read
- Amanda Blanc says she feels “responsible” for addressing industry sexism
- Goldman Sachs buys into Clear as ECI exits
- GRP expands in Wales with Prescott Jones buy
- Blog: Stonegate v MS Amlin and others - battle lines drawn in a £1bn dispute
- 30 minutes with: Axa’s Alan Scott
- Gallagher buys Innovo as “launch-pad” into Ireland
- People Moves: 20-24 June 2022