Lloyds claws back bonuses after PPI scandal

Five directors of Lloyds Bank, including the previous Chief Executive, will be forced to pay back some of their 2010 bonus, reports the Telegraph.

Five directors of Lloyds Bank, including the previous Chief Executive, will be forced to pay back some of their 2010 bonus, reports the Telegraph.

Lloyds has had to set aside £3.2bn to cover claims arising from the mis-selling of payment protection insurance (PPI), it's those losses which have prompted the so called "claw back" exercise.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.