Lloyds stops PPI sales
Thursday, 29 July 2010 10:08AM
Lloyds stops PPI sales
"Lloyds Banking Group stopped selling PPI from Friday, July 23rd across all brands," a Spokesperson commented, indicating that the product will no longer be sold at Halifax, Bank of Scotland and Cheltenham & Gloucester branches.
"The group does not expect this move to have an impact on income and the group will continue to receive income from existing policies."
If consumers enquire about PPI, they will now be given a leaflet from the British Bankers' Association about the product.
Ben Heffer, Insight Analyst at Defaqto, told the Press Association that he expects other banks to follow suit by ceasing the sale of PPI alongside loans and credit cards, although he expressed doubt that the same would be true for mortgages.
Posted by Ruth Bradshaw.
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