Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
PPI claim: ex-Lloyds boss defends PPI selling

Eric Daniels, former boss at Lloyds Banking Group, defended that bank’s selling of payment protection insurance (PPI) in front of MPs on the banking standards commission.

He denied that the majority of PPI plans were mis-sold and said that the reason the cost to the banks is so high is that they have paid out for many false claims. He said banks had paid out for false claims is because they had received so many complaints that they could not cope.

Mr Daniels was the bank’s chief executive between 2003 and 2011. He had to give back his £580,000 bonus from 2010 when Lloyds began making provisions for PPI claims. Currently Lloyds has set aside a total of £5.3 billion in provisions for PPI claims, which is the highest amount of money set aside by any of the banks.

The PPI scandal has seen the most complaints put in about any banking product in Britain.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801540659-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide