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Lloyds admits PPI failings

Lloyds admits PPI failings

Category: Loans

Updated: 12/06/2013
First Published: 12/06/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The practices of one of the UK's biggest banks have fallen under the spotlight yet again, following an investigation by the Times newspaper.

According to reports, Lloyds Banking Group made a series of failings within its main payment protection insurance (PPI) claims handling centre, with staff encouraged to 'play the system' often at the expense of customers.

The investigation also found claims handlers were taught to ignore suspected fraudulent activity and assume that customers whose initial claims had been declined would simply 'give up' pursuing any form of compensation.

Lloyds had contracted Deloitte to manage the Royal Mint Court centre, which employed around 1,300 members of staff.

Gillian Guy, chief executive of Citizens Advice, condemned the reports. "We need a revolution in banking which puts a greater emphasis on customer service and delivering what consumers need, not unscrupulous practices that leave people out of pocket," she said.

Lloyds said it would be addressing the issues as a result of the investigation, declaring in a statement: "Following the discovery of these issues and under the guidance of a new supplier the employees are currently undergoing retraining in line with our policies and procedures."

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