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MSE News: Lloyds is worst offender for wrongly rejecting customer complaints
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Former_MSE_Helen
Posts: 2,382 Forumite
Lloyds Bank wrongly turned away the most complaints, with 74% of consumers' complaints upheld by the ombudsman...
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Lloyds is worst offender for wrongly rejecting customer complaints
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Lloyds is worst offender for wrongly rejecting customer complaints
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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When commenting about Lloyds, please remember Hanlon's razor:Never attribute to malice that which is adequately explained by stupidity0
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How many of those complaints have been regarding PPI?DEBT FREE!
Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
Debt free by Xmas 2015: £1250/£1250 (100.00%)0 -
GingerFurball wrote: »How many of those complaints have been regarding PPI?
Completely irrelevant IMO.
I've dealt with Lloyds for a number of people, and never have I found a bank so difficult to deal with.
This isn't once or one department, it's over a range of accounts.💙💛 💔0 -
Probably quite a lot.GingerFurball wrote: »How many of those complaints have been regarding PPI?
Interesting to see the disparity with Bank of Scotland (which includes Halifax).
Given that LBG often have the same decision makers regardless of brand.0 -
This thread will upset the professional apologists of Lloyd's on this forum.0
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30 years ago, I loved my local Lloyds.
The staff were middle aged, professional, efficient, and never made a mistake. Then they closed my local branch, and I had to move on. Sad.0 -
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The retail bank remained profitable as the corporate side crashed.Thrugelmir wrote: »HBOS was probably the worst retail bank in the world before it's demise in 2008. Should have been allowed to go under.
If HBOS hadn't been rescued the retail arm would have easily found a buyer.
Lloyds adopted the HBOS mortgage underwriting platform and also applied the unsecured credit scoring model to the rest of its business.
After originally reporting the HBOS mortgage book as poor quality they admitted an incorrect methodology and reassessed the portfolio as better quality than Lloyds TSB.
While HBOS stunk, it wasn't the retail bank that was the problem.0 -
If you look at the statistics, in all other areas the FOS uphold rate is below 30% - so for every case where it finds in favour of the consumer over two cases are found in favour of the bank.
So clearly the scale of other complaints has been dwarved by the number of PPI cases, of which 82% were upheld, to reach 74% overall.
However, we do not know how many of the cases relate to the legal action. Although that was some time ago, cases where a decision was "parked" pending the court decision either by FOS directly or because the bank did not act on them pending the outcome in the courts have to work their way through the system.0
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