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MSE News: Lloyds says sorry for PPI mis-selling
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"Lloyds has apologised and promised a catalogue of moves to provide redress, in another capitulation by banks on PPI ..."
"Lloyds has apologised and promised a catalogue of moves to provide redress, in another capitulation by banks on PPI ..."
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Comments
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"Yeah, we're really sorry about that! Now the apology is out of the way, why don't you come down to your local branch and apply for a credit card you cannot afford and let us give you an awful overdraft rate so we can recuperate some of that PPI compensation back into our corporate dinner fund."0
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cactusdust wrote: »"Yeah, we're really sorry about that! Now the apology is out of the way, why don't you come down to your local branch and apply for a credit card you cannot afford and let us give you an awful overdraft rate so we can recuperate some of that PPI compensation back into our corporate dinner fund."
pmsl:rotfl::rotfl::rotfl:
:D:p Perfer et obdurai dolor hic tibi proderit olim :D:p
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This news comes on the day I had the long-awaited letter saying they're they've accepted and refunding my ppi claim in full, with 8% interest (not sure of total amount as yet). I say woohoo, it was my money, and they've more than made up for the amount in outrageous overdraft and account fees since then. But still, was glad it didn't need to be referred to the ombudsman.0
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"Lloyds, sadly, hasn't gone as far as Barclays, no doubt as its mis-selling exposure is so much bigger, so it is still cheaper for it to process and delineate between valid and invalid claims rather than just payout."
But that is fair and reasonable, Martin.
Barclays may have its own commercial reasons for choosing a different route - or simply not have the resource to deal with it in time. If Lloyds can then it is perfectly within its rights to do so and, since we taxpayers are, in effect, the major shareholders who must pay the redress bill, I think that is the right decision.
I never wanted to own shares in Lloyds TSB so it is bad enough that I am now expected to contribute to reimbursing those who were missold, without having to reimburse those who were not.0 -
Is Stephen Hester going to say sorry and follow the route of Lloyds and Barclays. ???
I mean, after admitting that taxpayers money helped pay those DISGUSTING bonuses, he must use good manners now if he is to keep credibility with the public ...
Then there are the other PPI scam merchants, MNBA and Capital One, as just two examples .... interesting to see if they wish to retain some sort of credibility :beer:0 -
Just to let you know of the current LBG (llyods halifax Bank of Scotland) tactics I received a call out of the blue last week from a customer advisor who wanted to talk to me about a complaint I had submitted in 2008 that concerned my late Fathers Estate. Whilst settling my Fathers affairs I found he had been talked into a 5 year investment plan that seemed highly inappropriate given his age (85) and the high admin charges and of cause they had a double go and hooked my Mom as well.
Anyway despite a well worded letter my case was thrown out but I was told they had reviewed it and wanted to make a settlement and would like my bank account details I would like this paying into.
Call me old fashioned but whilst they clearly new some information concerning the case I would not provide this unless I am sure who I am talking to, anyway as I was umwilling to provide this and requested all the details in writing so I could consider their offer I was informed they would raise a cheque.
A letter duly arrived with said cheque that I am not at all happy about, they are clearly banking on (excuse the pun) prompt payment and a cheque will but people off further action, in my experience a first offer is not always the best ! To add insult they contacted my Mother now aged 85 and carried out the same procedure.
The financial reimbursment is reasonable but does not offer any additional compensation as gesture to compensate for their shoddy practises that they now admit to by upholding the case.
My reply in the post no harm in trying.
Regards
Zeberdy0
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