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PPI Claim News - 24/2/2010

Payment Protection Insurance: Lloyds TSB's uncharitable act of 'vandalism'

Lloyds TSB has been described as showcasing an unethical act of "determined vandalism" following the news that it is to cut its charitable arm.

Over the past 25 years, the Lloyds TSB Foundation for Scotland has received funding from the bank, which is distributed among charities in the region.

However, the banking group announced yesterday that it is to withdraw this support.

Commenting on the announcement, Mary Craig, chief executive of the foundation, said it was a deeply harmful decision that will not sit well with the public.

"In breaking the covenant now, Lloyds Banking Group has disowned its heritage and is choosing to ignore the role Scottish communities and their savings played in it being where it is today," she remarked.

The foundation has successfully boosted Scotland's charities by over £85 million. Its trustees are now concerned about how they will recoup this funding when it is lost.

Under the rules of the legislation, the bank must serve a notice of at least nine years, meaning that the charity funding will be officially halted in 2019.

If you would like to get your payment protection insurance back - PPI Claim from Lloyds TSB then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19633374-ADNFCR

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