Lloyds fined £4.3 million for mis-sold insurance

February 19, 2013 11:21 AM GMT

The Financial Services Authority on Tuesday fined Lloyds Banking Group 4.3 million pounds for failing to handle complaints relating to insurance sold on loans and mortgages properly.

The FSA said failings in the bank's systems and controls resulted in up to 140,000 customers experiencing delays in receiving compensation for being mis-sold payment protection insurance (PPI).

(Reporting by Matt Scuffham; editing by Rhys Jones)

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