Lloyds' PPI mis-selling bill soars to £8 billion

[Amethyst]

http://www.moneysavingexpert.com/new...s-to-8-billion


Lloyds Banking Group's bill for its part in the payment protection insurance (PPI) mis-selling scandal has soared to more than £8 billion, according to its latest financial results.


http://www.bbc.co.uk/news/business-24723413

Lloyds Bank says it will set aside another £750m for compensation for mis-sold personal protection insurance (PPI), taking the total to £8bn.

UK banks have reserved £16bn to compensate customers sold unnecessary or irrelevant insurance, with Lloyds setting aside more than any other.

The bank, still part-owned by the taxpayer, made the announcement as it reported its third-quarter results.

[EXC]

Re: Lloyds' PPI mis-selling bill soars to £8 billion

Lloyds Banking Group's bill for its part in the payment protection insurance (PPI) mis-selling scandal has soared to more than £8 billion, according to its latest financial results.


http://www.bbc.co.uk/news/business-24723413

Lloyds Bank says it will set aside another £750m for compensation for mis-sold personal protection insurance (PPI), taking the total to £8bn.

Apparently nearly a quarter of the £8b figure is complaint handling administration costs.