Correspondence

CMA letter to Lloyds Banking Group about 3 breaches of the PPI Order

Letter to Lloyds Banking Group about its non-compliance with the Payment Protection Insurance (PPI) Market Investigation Order 2011.

• From: Competition and Markets Authority
• Published: 3 February 2021

Documents

CMA letter to Lloyds Banking Group

PDF, 93.8 KB, 3 pages

Lloyds action plan

PDF, 102 KB, 1 page

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Details

The CMA wrote to Lloyds Banking Group about three breaches of the PPI Order. The breaches relate to incorrect information provided in Annual Review statements to mortgage PPI customers. Around 8,800 PPI customers in total were impacted since 2013 and 2014. Lloyds Banking Group has committed to write to affected customers to apologise and offer refunds where customers have suffered losses.

Published 3 February 2021