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Lloyds issued with legal directions for PPI breaches

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Lloyds issued with legal directions for PPI breaches

 

The CMA has taken action against Lloyds Banking Group (Lloyds) for serious breaches affecting thousands of PPI customers.

 

The Competition and Markets Authority (CMA) has issued Lloyds with legal directions after it failed to send annual payment protection insurance (PPI) reviews and provided incorrect PPI data to its customers. It is now requiring Lloyds to put effective systems and procedures in place to prevent similar incidents from happening in the future.

 

This is not the first time Lloyds has breached the CMA’s PPI order, having reported 6 breaches in 2016 for failing to provide customers with correct data and annual reminders.

 

READ MORE HERE: https://www.gov.uk/government/news/lloyds-issued-with-legal-directions-for-ppi-breaches


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