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CMA writes to LBG on PPI Order breach

The CMA has written to Lloyds Banking Group about its non-compliance with the Payment Protection Insurance (PPI) Market Investigation Order 2011. LBG breached the PPI Order by failing to include the monthly PPI benefit value figures in PPI Annual Reviews relating to some of its AXA (TSB) Mortgagesure PPI policies.

LBG has sent apology letters to affected customers and is offering refunds of premiums.

Lucy Hadrill