Investigation by The Times Reveals Lloyds TSB Salesmen Might Have Forged PPI Additions to Loans
(EMAILWIRE.COM, June 28, 2013 ) Bury, U.K. - A reporter from The Times disguised as a trainee for handling mis-sold Ppis at Royal Mint Court London has recently revealed that executives told the trainees that certain loan agreements had fake PPI information. During the training the reporter was informed that certain blank boxes in the loan applications were ticked by bank salesmen themselves. Lloyds in response has admitted that there are aware of certain issues in handling the mis-sold PPIs and that they are now re-training the employees at the Royal Mint Court under a new supplier and in line with policies and procedures.
With many people now being aware of the Mis sold PPI, there has been increasing applications for their claims. However the main concern was why these people were not informed about PPI during their loan agreements in the first place. Many individuals have stated that they didnt know they even had PPI. Possible explanation is that salesmen either tricked them into ticking the option or what the investigation has revealed, which is they themselves were forging the agreements.
The mis-sold Payment Protection Insurance complaints were being handled by Deloitte on behalf of Lloyds, who outsourced the work to Momenta. Momenta simply stated, Momentas role in relation to PPI complaints handling process is limited to the recruitment of personnel to resource it.
Lloyds was the biggest seller of mis sold PPIs and its CEO, Mr. Horta-Osario has apologized and said that the scandal was unacceptable. The bank has already been fined for not paying the victims of mis-sold PPIs promptly. The Financial Services Authority has said that Lloyds broke the rules by not paying back the victims within the decided 28 days period. The reporter was also told in the training that PPI Claim that are rejected once do not often come back again. Lloyds on the other hand has stated that there have been many false claims; hence the claims are being carefully scrutinized before being granted. With increasing pressure Lloyds has now increased its PPI provision and has designated 6.8 billion for paying back their customers.
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