Lloyds Banking Group was fined £4.3 million by the City watchdog today after up to 140,000 customers had their payment protection insurance compensation payments delayed.
The customers were not paid redress within 28 days of receiving a decision letter and almost 9,000 had to wait more than six months for their compensation, the Financial Services Authority said.
The failings relate to Lloyds TSB Bank, Lloyds TSB Scotland and Bank of Scotland, leading to a total fine of £4.3 million.
More top news
Which? put in a 'super-complaint' after finding firms exaggerate discounts with dodgy multi-buys, shrinking products and baffling offers.
The Queen celebrates her 89th birthday today - but will she get to share it with her new great-grandchild?
Phil Rudd also pleaded guilty to possessing crystal meth and marijuana in a New Zealand court.