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Lloyds Banking Group sets aside an extra £350m for PPI

Bank makes an additional provision for PPI after the regulator extends a final deadline for claims.
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  • BusinessFormer bosses’ failures laid bare over £20bn ‘destruction’ of HBOSFormer bosses of HBOS have been blamed for catastrophic decision-making which triggered the bank’s destruction and its need for a £20bn taxpayer bail-out. They were singled out in a watchdogs’ report which described HBOS as “at root a simple bank that nonetheless managed to create a big problem”. Board members including Lord Stevenson, HBOS’s former chairman, and James Crosby and Andy Hornby, who were chief executives in the seven years before it collapsed in 2008 were among those criticised. They were accused of presiding over a bank that was “excessively vulnerable to an economic downturn and a dislocation in wholesale funding markets”.(They) failed to set an appropriate strategy, and also failed to challenge a flawed business modelFinancial watchdogs’ reportHBOS was rescued by Lloyds TSB in the autumn of 2008 at about the same time it sought emergency funding from the Bank of England to remain afloat. Since their merger created Lloyds Banking Group tens of thousands of jobs have been axed. But the much-delayed report by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) painted a vivid picture of HBOS’s uncontrolled expansion as the bank’s balance sheet grew from £477bn in 2004 to £690bn in 2008. To date, only Peter Cummings, HBOS’s former head of corporate banking, has been fined and banned for his role in the bank’s downfall. Eight former directors issued a statement criticising the report and dismissing suggestions they should be punished. It said: “Their only wish now is that current and future bank boards learn to avoid the mistakes that they and others undoubtedly made.”The FCA and PRA should get on with this immediately. Parliament will expect an answer from them within months, not years. This has gone on long enough, to put it mildly.Andrew Tyrie, chair of the Commons treasury select committee
  • Blockchain investor sets up in Gibraltar – Gibraltar ChronicleBlockchain investor sets up in GibraltarGibraltar ChronicleAn investment group focused on early-stage blockchain technology companies has set up a subsidiary in Gibraltar, in a boost to the Rock’s efforts to establish itself as a global hub for this growing sector. London-based Coinsilium Group, which finances …View On WordPress
  • MAINSTREAM NEWS MEDIA EXTRACTS: I The Carroll Foundation Trust and parallel Gerald 6th Duke of Sutherland Trust multi-billion dollar corporate identity theft offshore tax fraud bribery scandal has revealed that the explosive FBI Scotland Yard criminal “standard of proof” prosecution files have named yet another UK Law Society firm in this case of international importance. Sources have confirmed that the Leathes Prior law firm based in Norwich Norfolk has been named in the dossiers surrounding the firm’s legal advice to the Gerald Carroll interests. Further sources have said that the Scotland Yard compelling evidential paper trail embraces serious criminal offences which were conducted by the Zolfo Cooper former partner Neil Cooper a High Court “appointed trustee” with complete legal responsibility for the case. It is understood that Neil Cooper conducted what is known to have been a “criminal administrative regime” of the Gerald Carroll life tenant estate interests spanning a bizarre eight to ten years. Further sources have said that Neil Cooper attempted to effectively “airbrush out the case” by executing a “complete handover” of the files to the UK Insolvency Service who are also implicated in this City of London bank fraud heist which stretches the globe. In a stunning twist it has emerged that the dossiers contain a startling litany of fraudulently incorporated HSBC 4-8 Victoria Street Westminster London accounts Barclays International Bahamas Cayman Islands offshore accounts and Queen’s bankers Coutts & Co Gerald Carroll banking arrangements which provided a diversionary corporate smokescreen for the embezzlement of two hundred million dollars of the Carroll Foundation Trust’s huge treasury investment holdings. The Carroll Foundation Trust files are held within a complete lockdown at the FBI Washington DC field office and the Metropolitan Police Scotland Yard under the supervision of the commissioner Cressida Dick QPM who is known to have intimate knowledge of this major public interest case. MAINSTREAM NEWS MEDIA EXTRACTS: II The Carroll Foundation Trust and parallel Duke of Sutherland Trust multi-billion dollar corporate identity theft tax fraud bribery scandal which is encircling the Attorney General Jeremy Wright has disclosed that the Lloyds Banking Group Chairman Lord Blackwell is seriously implicated in this case of international importance. Sources have confirmed that the explosive FBI Scotland Yard criminal “standard of proof” prosecution files contain forensic specimen exhibits of forged and falsified Lloyds Bank accounts which are “directly linked” to the fraudulent incorporation of a Withersworldwide law firm shadow “criminal parallel trust” that embezzled two hundred million dollars of the Carroll Foundation Trust’s huge treasury investment holdings which were held at the Queen’s bankers Coutts & Co and Barclays Bank City of London branches. In a stunning twist it has emerged that a bewildering array of Lloyds Bank branches have been named in the dossiers “centered around” the former Lloyds Bank regional office which was located at Berkeley Square House Mayfair London and the Lloyds Bank Market Place Romford Essex. It has also been disclosed that the files contain forensic specimen exhibits of fraudulent bank sort code payments running into tens of millions of dollars which were advanced to three of the FBI Scotland Yard “targeted” core cell “high value suspects” in this case which stretches the globe. Scotland Yard leaked sources have revealed that the Lloyds Banking Group are known to be deeply involved in the financial affairs of the Duke of Sutherland Trust estate and the parallel Gerald Carroll Trust interests for more than sixty years which has prompted well seasoned City of London observers to remark that the offshore tax haven of the Bahamas is the “central actor” in this society scandal of the decade. The Carroll Foundation Trust files are held within a complete lockdown at the FBI Washington DC field office and the Metropolitan Police Scotland Yard under the supervision of the commissioner Cressida Dick QPM who is known to have an intimate knowledge of this case spanning a staggering sixteen years. International News Networks:
  • Lloyds profits up as PPI costs recede Image copyright Reuters Lloyds Bank has announced pre-tax profits for the third quarter of £1.95bn, a rise of 141% on the same period last year. However, last year’s result included a big provision to cover claims for mis-sold payment protection insurance (PPI). Underlying profit for the period was £2.08bn, up 9% on 2016. The bank did not set further money aside to cover PPI claims, having made… View On WordPress
  • The Impartial and Night Same old are doubling their video group to 50 After shuttering its print paper in March 2016, The Impartial is winning once more and will spend extra on what its target audience needs — and that’s video. Over the following six months, ESI Media, the father or mother corporate of The Impartial and the Night Same old, plans to double its video group to 50. Every name recently has a group of 10 video experts, and a central group of 5 works… View On WordPress
  • [07-10] Thanks to Lloyds Banking Group @AskLloydsBank for supporting our #SpiritofMcr17 Business Citizenship Award #SpiritofMcr
  • [28-09] Noel Edmonds and his £300m court case again #Lloyds Banking Group over #HBOS Reading Fraud.
  • [26-10] Green cllr @Alex4Craig_Dudd presses council to meet with Lloyds Banking Group on proposed closure of museum on moun…
  • [03-10] Interesting contrast between #Natwest and #Lloyds banking over the #Monarch issue. Impressed with Lloyds. Spoke to a person. Natwest closed.
  • [22-11] #NHS trusts given extra £350m for entire winter, despite #Brexit bus promising £350m a weekand yet #Budget2017 gi…
  • [26-10] And he was later knighted for services to Banking - Brown's involvement in #HBOS #LLoyds merger will come out sooner or
  • [27-07] Lloyds Bank sets aside another £700m for PPI claims
  • [30-09] What... Surely NHS would be better with extra £350m a week? But we still need to pay farmers, projects, etc.? Didn'…
  • [09-08] I reckon £350m a week is just over £18bn a year: if you thought that was going to be extra cash for the NHS you were misleading yourself #EU
  • [22-11] "Barnetised":£350m #Budget2017 extra for NHS in England this financial year, but doubts on whether a share will come to S
  • [12-08] @1StevePearse @jameschappers @RachelSJohnson Voters were lied to, eg an extra £350m per week for the #NHS, so they voted for #Brexit
  • [21-08] ... also the pound has hit a 6 year record high against the euro and extra £350M a week are to be spent on the NHS #brexit
  • [25-08] Los Angeles #CA #USA - Retail Banking Group Division Executive - Retail Banking Group Division Executive D...
  • [04-08] Buying a #property in an #England market town costs �34000 more than neighbouring areas, research from Lloyds Bank group has found
  • [07-10] Personal Shopper Marc Carney - The George Clooney of Banking Celebrity Stylist Gabrielle Teare sets
  • [22-11] £350m winter short-term for #NHS? If #ToriesOut had confidence in their #Brexit debacle, that'd be, oh, £350m per w…
  • [23-11] Brexiteers promised £350m a week for NHS. #Budget2017 gave it £350m. For the whole winter.
  • [23-08] Great, just great... A THIRD of Brits really thought #Brexit would mean £350m extra for the NHS.
  • [05-10] KBL epb: #Europe’s private #banking group
  • [06-11] Lloyds/HBOS deal described as a ‘disaster’ in High Court case #LLoyds #HBOS
  • [13-09] Lloyds dont play by the rules It would seem that @TheFCA rules don apply to them #HBOS Lloyds
  • [06-07] See our latest #Birmingham, AL #job and click to apply: Corporate Banking Group Hub Closing Specialist -
  • [28-08] A leading UK #Banking group in #Glasgow have a number of vacancies within their Clydebank site. £15,375 P/A. Apply:
  • [02-10] OTC Markets Group Welcomes Australia’s Digital Banking Platform Change Financial to OTCQX
  • [22-11] #NHS trusts given extra £350m for entire winter, despite #Brexit bus promising £350m a weekand yet #Budget2017 gi…
  • [22-11] "Barnetised":£350m #Budget2017 extra for NHS in England this financial year, but doubts on whether a share will come to S
Lloyds Banking Group sets aside an extra £350m for PPI
Bank makes an additional provision for PPI after the regulator extends a final deadline for claims.
Banking
Lloyds
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YA
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Noel Edmonds sues Lloyds Banking Group in £300m case '‍ - Deal or No Deal star Noel Edmonds is to launch a £300million compensation claim against Lloyds Banking Group after mediation efforts collapsed following the ...
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