Lloyds receives 1.4m PPI complaints in a year

So Lloyds also inherited the HBOS complaints, most originating before they took over. So Lloyds are being shown to be the bad guys here, but do not overlook the fact that if Gordon Brown had not have invoked the old pals act and forced Lloyds to take over without due process (Barclays had already said 'no way') then it would have been the surviving regulated firms that would have had to pick up the FSCS bill. HBOS were on the verge of declaring bancrupcy.

This aquisition has ruined Lloyds in the short term. GB said he would fix the competition and mergers people, but could not fix the EU, so my local Lloyds branch will be owned by someone else under project verde. The chairman who took HBOS has gone, the bank had to borrow billions and is now has the state as its major shareholder. Only time will tell if this merger did Lloyds any favours, I think not. Prior to GBs involvement, Lloyds was the least racy of our big banks, had little involvement in toxic assets, had a good balance sheet and was considered dull. I have no doubt it wrote many PPI contracts that have since been classified as 'unsuitable', but it was not the worst in that regard. Halifax sold a limited range of mainly unsuitable investments aggressively, how many of the investment complaints stemmed form them?

And how many of these complaints were via CMC's?