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    BBC News Lloyds to pay £117m over PPI handling

    Lloyds hit by record £117m fine over PPI handling




    State-backed Lloyds Banking Group has been fined a record £117m for mis-handling payment protection insurance (PPI) complaints by the City watchdog.
    It is the latest fine imposed on the bank, in which the taxpayer still holds a 19% stake.
    It comes just two months after Clydesdale Bank was fined £20.7m for similar failings.
    Earlier this week, the government said it would launch a Lloyds share sale to the public "in the next 12 months".
    Last year, Lloyds was fined £218m by the Financial Conduct Authority (FCA) and US regulators for its part in the rigging of international banking lending rates.



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    Last edited by Nikki; 5th June 2015 at 11:18 AM.

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