The industry let customers down badly in relation to the sale of PPI. The significant volume of complaints is a product of LBG’s own failings and the least customers can now expect is that redress, when it is due, will be paid promptly.
In short, LBG’s PPI redress payment systems fell well below the standard the FSA expects, and the size of this fine reflects how seriously we view these breaches. All regulated firms must treat those who complain fairly and that includes paying redress promptly when it is due.
More top news
A former model has been found guilty of murder after shooting her millionaire ex-boyfriend in his Costa del Sol home.
Some warm sunshine today, but also scattered heavy showers in the South-west.
A 14-year-old girl who died after falling ill in a PE class has been named locally as Kiera Beagle.