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Monthly Archives: May 2011

Banks claw back bonuses to cover PPI claims

In order to cover the huge payouts banks are facing to cover their mis sold PPI policies, many leading banks are considering whether to invoke claw back powers on executives involved in the PPI mis-selling scandal.

Lloyds Banking Group consider bonus reclaim after £3.2bn PPI provision

Lloyds Banking Group

After provisioning a massive £3.2bn for compensation against mis sold PPI Claims from its customers – Lloyds Banking Group are now considering reclaiming some of this debt back by clawing back the bonuses awarded to executives.

Lloyds Banking Group Surprise £3.2bn Provision to Cover PPI Claims

Lloyds Banking Group

Lloyds Banking Group surprised the rest of the UK high street banks and the BBA after making a dramatic U-turn and provisioning a massive £3.2bn to cover any compensation claims.