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Loan Protection: Lloyds receive 2,000 complaints a day

Lloyds TSB has revealed that it has received just under 2,000 complaints a day since the beginning of 2010.

Around 300,000 complaints were sent into Britain's biggest bank in the first six months of the year.

Of those complaints, just one in ten ended in an apology or compensation with the firm simply dismissing the remaining 90 per cent.

Just over half of the 41,000 complaints relating to insurance products and the mis-selling of payment protection insurance were upheld in the customers favour.

The bank has also closed 600,000 outstanding complaints this year following the ruling on the overdraft charge case which was found in favour of the bank.

The Financial Services Authority recently brought in new regulation which instructed UK banks to publish their complaint records.

Earlier this year, Royal Bank of Scotland revealed it received more than 1,600 complaints every day and upheld around 80 per cent of these.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management ADNFCR-2776-ID-800042460-ADNFCR

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