The boss of Lloyds is being offered a £1.5 million bonus despite the taxpayer-backed bank racking up losses of £570 million.
The bonus awarded to chief executive António Horta-Osório was criticised by consumer groups as Lloyds set aside another £1.5 billion to cover mis-selling of payment protection insurance,
That takes the total which Lloyds has lost on mis-selling PPI in the last two years to £6.8 billion — by far the largest sum among the major high street lenders.
Which? executive director Richard Lloyd said: “After a year of scandals the banks should be doing all they can to win back badly damaged consumer trust, and help people entitled to a legitimate refund to get their money back quickly and without any hassle.
“The banks should publish updates on the amount of compensation they’ve paid back, and claw back bonuses from executives who presided over the mis-selling. The public will be rightly outraged that bankers are getting huge bonuses despite their failings.” Full story...
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The bonus awarded to chief executive António Horta-Osório was criticised by consumer groups as Lloyds set aside another £1.5 billion to cover mis-selling of payment protection insurance,
That takes the total which Lloyds has lost on mis-selling PPI in the last two years to £6.8 billion — by far the largest sum among the major high street lenders.
Which? executive director Richard Lloyd said: “After a year of scandals the banks should be doing all they can to win back badly damaged consumer trust, and help people entitled to a legitimate refund to get their money back quickly and without any hassle.
“The banks should publish updates on the amount of compensation they’ve paid back, and claw back bonuses from executives who presided over the mis-selling. The public will be rightly outraged that bankers are getting huge bonuses despite their failings.” Full story...
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