Response to investigation in the Times of PPI complaints handling at Lloyds

Richard Lloyd, executive director of Which?, said:

Responding to the  investigation in today’s Times over PPI complaints handling at Lloyds bank, Which? executive director Richard Lloyd said:

“PPI is already the biggest financial mis-selling scandal of all time and this investigation yet again casts doubt on claims by banks that they are cleaning up their own act. It’s little wonder that consumers’ trust in banking has collapsed, and confirms the need for radical reform of the industry by the Government.

“Banks have been in complete denial over the industrial scale of PPI mis-selling.  Instead of peddling the myth that many PPI complaints are fraudulent, Lloyds should have been getting their own house in order and properly dealing with legitimate complaints.

“We have repeatedly raised concerns with the banks, regulators and Financial Ombudsman Service about the worrying variation in quality of PPI complaint handling.   There are rules on how banks should handle complaints and they should be making it as easy as possible for people entitled to a refund to claim back their money, without any hassle.

“We hope the regulator’s investigation will ensure all banks are handling complaints to a much higher standard than that exposed in this shocking investigation. There must be tough action taken against any bank found breaching the rules.

“If people are concerned that their claim was not investigated properly by Lloyds, they should resubmit their claim to the bank.”

Use our free online tool to put in your claim for a PPI refund.

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