Bank urges Financial Conduct Authority to set tighter time bar for claims,after saying its total payouts for mis-sold insurance nears £14bnLloyds Banking Group intends to lobby the City regulator for an earlier cut-off point for customers’ claims on payment protection insurance compensation, as its bill for the scandal reaches nearly £14bn.
The bailed-out bank took another £500m provision for PPI in the third quarter and admitted it was facing an additional charge of £100m for potential claims on other products sold through branches. Related: The banking crisis, or seven years on: how much has changed? Continue reading...
Source: theguardian.com