Lloyds TSB PLC, has become the most complained about banking institution in the UK. Following the mis selling of Payment Protection Insurance (PPI) to customers that did not want or need the policies. The Financial Ombudsman (FOS) released a recent Press Release stating that LLoyds TSB Plc had over 12,000 complaints regarding the sale of Payment Protection Insurance of which they upheld 74%. This means that LLoyds TSB Plc are rejecting UK consumers complaints for no good reason.
It comes after the bank has made a total loss of nearly £6 billion for the mis selling of the insurance policies to its customers over a ten year period.
With many customers now wondering when it will come to a head that banking CEO’s have to answer for their actions, they cannot blame this PPI on other peoples actions. The orders come from the top and people lower down the ladder follow orders, so it is time for the government to take control of the banking sector as a whole and look after consumers in the UK.
Lloyds TSB Plc believes that it wants to move on past the PPI scam and apologised to its customers, but is it enough and are they really sorry, with this latest figure that nearly 8 out of every 10 PPI claims that are rejected the Financial Ombudsman who’s job it is to make sure that the financial institutions are acting fairly with their complaints is upholding 74% of their rejected claims in favour of the customers.
It is not wonder that the people in the UK are furious with this latest press release and also no wonder that people in the UK want to claim on their insurance policies as soon as possible.
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