Thousands of Lloyds customers are owed money back, after an investigation found it shared wrong information to 8,000 policyholders.
Competition watchdog, the CMA, today said the bank breached pay-out rules by sending out incorrect PPI statements to 8,800 customers.
Under current rules, PPI providers are legally required to send customers annual reminders that set out the cost of their policy, the type of cover they have and their right to cancel.
However, the CMA said 8,800 people were sent incorrect information in annual reminders about PPI on their mortgage policies.
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