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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