MSE News: Lloyds is worst offender for wrongly rejecting customer complaints

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Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in Budgeting & bank accounts
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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  • RedDwarf82
    RedDwarf82 Posts: 178 Forumite
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    When commenting about Lloyds, please remember Hanlon's razor:
    Never attribute to malice that which is adequately explained by stupidity
  • GingerFurball_2
    GingerFurball_2 Posts: 990 Forumite
    Debt-free and Proud!
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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%)
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  • CKhalvashi
    CKhalvashi Posts: 12,060 Forumite
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    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.
    💙💛 💔
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    GingerFurball wrote: »
    How many of those complaints have been regarding PPI?
    Probably quite a lot.

    Interesting to see the disparity with Bank of Scotland (which includes Halifax).

    Given that LBG often have the same decision makers regardless of brand.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    This thread will upset the professional apologists of Lloyd's on this forum.
  • Pincher
    Pincher Posts: 6,552 Forumite
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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.
  • colsten
    colsten Posts: 17,597 Forumite
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    Pincher wrote: »
    30 years ago, I loved my local Lloyds.

    That's a bit extreme. Hope you found someone else/better to love since.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    ciaccino wrote: »
    This thread will upset the professional apologists of Lloyd's on this forum.

    HBOS was probably the worst retail bank in the world before it's demise in 2008. Should have been allowed to go under.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    edited 25 February 2015 at 7:21AM
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    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.
    The retail bank remained profitable as the corporate side crashed.

    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.
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
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    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.
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