The Lloyds group of companies, including Bank of Scotland and Lloyds TSB Bank, received more than 200 complaints per day in the first half of 2011, according to data published by the Financial Ombudsman Service (FOS).
The group, which also includes Scottish Widows and Black Horse, received a total of 37,696 complaints in the six months to 30 June. Lloyds TSB bank received almost 20,000 complaints, with almost 17,000 related to the alleged mis-selling of payment protection insurance (PPI). More than 80% of those were resolved in favour of the consumer. Of advisory businesses, Towry received the most complaints (140), with more than 90% found in favour of the complainant. In the previous complaints period - June to December last year - Towry received 345 investment-related complaints, with 83% res...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
