Thursday, 27 June 2013

PPI - Pretty Poor Impact

Lloyds has admitted shortcomings in the handling of complaints at a centre set up to deal with PPI mis-selling. It comes as an undercover reporter at The Times said staff at one of the bank's complaints handling centres had been taught to "play the system".
 
The facts so far highlight that Lloyds has paid out £4.3 billion to 1.3 million customers who were victims of the PPI mis-selling.
 
These figures are despite Lloyds staff being told to ignore possible fraud by Lloyds salesmen and that most complainants would give up if rejected the first time.
 
Which begs the question......what should the true figure of compensation be?
 
When 'we' have a 40% stake in a company that we want to sell, a queue of buyers is hardly likely to form with this likely to hang on for far longer and at greater cost.
 
Another great example of a morally corrupt banking sector and an incompetent Government clueless in effective regulating.
 
Very sad.

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