Worksop: MP says Lloyds yet to get a grip on PPI claims scandal

Bassetlaw Games awards night.  Pictured is MP John Mann (w121008-7p)
Bassetlaw Games awards night. Pictured is MP John Mann (w121008-7p)
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Bassetlaw MP John Mann says a fine handed down to Lloyds Banking Group for their latest failure to deal with historic PPI claims shows the bank has yet to get a grip on its biggest legacy issue.

The Financial Conduct Authority has fined Lloyds Bank a record £117 million due to the failings of its own procedures when dealing with PPI mis-selling complaints from the public.

Mr Mann said on Friday: “Today’s fine is just the latest problem to hit Lloyds Banking Group and it appears that the senior management at the bank just haven’t got a grip on the problem.

“The taxpayer still owns a 19 per cent stake in the bank and it is time we heard from the senior non-executive directors about what they have been doing whilst the bank lurches from one scandal to the next.”