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Lloyds Returns to the Private Sector

Eight years after the Government rescued Lloyds Banking Group during the financial crisis, they have announced their remaining shares have now all been sold. The Banking Group have claimed that the government is set to see a return of £21.2bn on its original investment of £20bn now that all shares have been sold. At the… View Article

Taxpayer to Profit £500m on Lloyds £20.3bn Bailout

Antonio Horta-Osorio, Chief Executive of Lloyds Banking Group has claimed that the taxpayer will be set to make a profit of approximately £500m on the £20.3bn bailout the bank received during the financial crisis. Shareholders have been informed that the bank is now ‘just days away’ from returning to ‘full private ownership’ after it was… View Article

HSBC Spends More Money on Extra Staff & Compliance

The biggest bank in Britain, HSBC, has stated it has had to spend extra money on hiring more staff and compliance in order to ‘fight financial crime.’ The bank has experienced numerous scandals over the past few years, which it now hopes to put a stop to with its extra compliance and staffing provisions. The… View Article

Regulator Expresses Concern Over High Levels of Personal Debt

The Financial Conduct Authority (FCA) has expressed concern over the high levels of personal debt held by consumers, which it claims are ‘high enough to merit the whole sector coming under the microscope.’ The Regulator is set to launch its mission statement for the commencing financial year, which is a 36-page document with a high… View Article

Micro Branches to be Introduced by Lloyds

Lloyds Bank are set to introduce new ‘micro branches’, reducing the size of hundreds of its current branches. The new much smaller branches are due to a ‘profound change in customer behaviour’, meaning many transactions are now being done online. The micro branches will be ran by just two members of staff and some of… View Article

Latest Stress Test Set by Bank of England

The Bank of England has told the biggest banks in the UK to prepare themselves for its latest stress test, which will include a ‘wide range of challenges’. The seven major lenders set to take part in this are HSBC, Lloyds, Barclays, RBS, Standard Chartered, Santander UK and Nationwide, and each will have to prove… View Article

Lloyds Sets Aside Further PPI Provisions

A further £350m has been set aside by Lloyds banking group in order to compensate their UK customers for mis-sold Payment Protection Insurance (PPI). The bank is blaming both the introduction of a deadline for making a PPI complaint and also ‘extra requirements’ from the Financial Conduct Authority (FCA) for these further compensation provisions. This… View Article

PPI Dominates Ombudsman Workload as Deadline Announced

With the PPI deadline announced for 29th August 2019, Payment Protection Insurance complaints continue to dominate the workload of the Financial Ombudsman Service (FOS). The deadline has been announced from the Financial Conduct Authority (FCA) and the regulator has also issued guidance for firms with relation to how they should handle any claims which relate… View Article