Secret email shows Lloyds still pressures staff over sales despite £28m fine for mis-selling

clock

Lloyds is continuing to pressurise staff to mis-sell credit cards, loans and insurance, a leaked email has revealed - just months after the bank was fined £28m for promoting a ruthless sales culture.

The email, which has emerged a week after Lloyds's bill for mis-selling payment protection insurance topped £10bn, reveals the aggressive sales culture which still pervades the bank, the Daily Mail reports. It was sent by an unnamed regional manager to a branch and shows how employees are set strict targets to make as many appointments with customers as possible. It uses industry jargon such as ‘helping' customers with credit cards, and ‘needs met' to describe sales. Staff are also set targets for ‘referrals', which means passing a customer to another department of the bank which w...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Open letter slamming FCA email policy sent to regulator and government

Open letter slamming FCA email policy sent to regulator and government

'Alarming lack of consultation'

Beth Brearley
clock 20 March 2025 • 2 min read
Crispin Odey hit with £1.8m FCA fine and ban

Crispin Odey hit with £1.8m FCA fine and ban

FCA cites lack of integrity

Sorin Dojan
clock 17 March 2025 • 2 min read
Reeves to overhaul regulatory regime as part of growth drive

Reeves to overhaul regulatory regime as part of growth drive

FCA and CMA face changes

Sorin Dojan
clock 17 March 2025 • 2 min read