payment protection News

UK banks face new rules to stamp out sales incentives that have encouraged mis-selling of financial products going back two decades, the Financial Services Authority said on Wednesday. UK banks have been hit by a series of scandals in the …

Lloyds, the UK’s state-backed bank, which has no affiliation with Lloyd’s of London, took a shock £3.2 billion ($5.3 billion) charge against its profits on Thursday to cover compensation for people sold insurance they would never be able to claim. …