Correspondence
CMA letter to Lloyds about 18 breaches of the PPI Order
Letter to Lloyds Banking Group (Lloyds) about its non-compliance with the Payment Protection Insurance (PPI) Market Investigation Order 2011.
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The CMA wrote to Lloyds about 18 breaches of the PPI Order. In 14 of the breaches Lloyds failed to send Annual Reviews to 4,950 PPI customers within 14 days of the anniversary date, and in 4 of the breaches Lloyds included incorrect information or failed to provide information to 5,537 PPI customers. It has committed to write to affected customers to apologise and offer refunds where customers have suffered losses.