Lloyds' decision to leave PPI row supported by uSwitch

Money News

www.moneynews.co.uk > LloydsTSB > Lloyds' decision to leave PPI row supported by uSwitch

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Lloyds' decision to leave PPI row supported by uSwitch

Price comparison service uSwitch has come forward in support of Lloyds' decision to exit the Payment Protection Insurance (PPI) legal challenge.

The decision by the bank to pull out of the High Court ruling is good news for its customers, uSwitch claimed.

This comes after the decision by other banks involved in the case to give up on their objection to the judge's verdict.

Lending expert at uSwitch Stefan Maryniak suggested Lloyds' decision will come as a blow to the money lenders still involved in the ruling.

He said: "Today's announcement is great news. If the banks manage to appeal the decision, consumers' victory will be short-lived."

Mr Maryniak also revealed the bank had set aside in excess of £3 billion in order to pay for PPI-related mistakes.

Recent developments with the case show that the British Bankers Association has opted to back out of the ruling, which could result in billions of pounds worth of payouts in compensation.

Click here for more loans news ADNFCR-323-ID-800525095-ADNFCR

Related News : LloydsTSB

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet