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  • FIRST POST
    • MSE Guy
    • By MSE Guy 14th Jun 11, 8:47 AM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Lloyds says sorry for PPI mis-selling
    • #1
    • 14th Jun 11, 8:47 AM
    MSE News: Lloyds says sorry for PPI mis-selling 14th Jun 11 at 8:47 AM
    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 ..."

Page 1
    • cactusdust
    • By cactusdust 14th Jun 11, 9:46 AM
    • 415 Posts
    • 208 Thanks
    cactusdust
    • #2
    • 14th Jun 11, 9:46 AM
    • #2
    • 14th Jun 11, 9:46 AM
    "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."

    • The Marksman
    • By The Marksman 14th Jun 11, 9:53 AM
    • 1,706 Posts
    • 3,586 Thanks
    The Marksman
    • #3
    • 14th Jun 11, 9:53 AM
    • #3
    • 14th Jun 11, 9:53 AM
    "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."
    Originally posted by cactusdust

    pmsl
    • jmb1
    • By jmb1 14th Jun 11, 11:53 AM
    • 60 Posts
    • 5 Thanks
    jmb1
    • #4
    • 14th Jun 11, 11:53 AM
    woohoo!
    • #4
    • 14th Jun 11, 11:53 AM
    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.
    • magpiecottage
    • By magpiecottage 14th Jun 11, 1:50 PM
    • 9,114 Posts
    • 5,584 Thanks
    magpiecottage
    • #5
    • 14th Jun 11, 1:50 PM
    • #5
    • 14th Jun 11, 1:50 PM
    "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.
    • beamerguy
    • By beamerguy 14th Jun 11, 10:03 PM
    • 11,810 Posts
    • 16,246 Thanks
    beamerguy
    • #6
    • 14th Jun 11, 10:03 PM
    What about RBS
    • #6
    • 14th Jun 11, 10:03 PM
    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
    RBS - MNBA - CAPITAL ONE - LLOYDS

    DISGUSTING BEHAVIOUR
    • zeberdy
    • By zeberdy 14th Jun 11, 10:17 PM
    • 88 Posts
    • 28 Thanks
    zeberdy
    • #7
    • 14th Jun 11, 10:17 PM
    LBG (LLoyds Halifax BOS Group)
    • #7
    • 14th Jun 11, 10:17 PM
    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

    Zeberdy
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