Lloyds fined £64m for unfair treatment of mortgage customers

City watchdog rules bank mishandled cases of 526,000 customers who fell into difficulties

Lloyds Banking Group has been fined £64m by the City watchdog for failing to treat mortgage customers fairly after they fell into financial difficulty.

The fine is linked to Lloyds’ mishandling between 2011 and 2015 of more than 526,000 mortgage customers, who have since been reimbursed a total of £300m. The Financial Conduct Authority said that while the bank identified the problem as early as 2011, it “failed to fully rectify the issues”.

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