Home Business Lloyds Bank fined $81 million for mortgage arrears failures

Lloyds Bank fined $81 million for mortgage arrears failures

LONDON (Reuters) – Britain’s Financial Conduct Authority said on Thursday it has fined Lloyds Bank (LLOY.L) 64 million pounds ($81.26 million) for failures in handling mortgage arrears.

Lloyds and its Bank of Scotland and The Mortgage Business units have estimated that they will have paid approximately 300 million pounds in redress, and the redress programme is nearly complete, the FCA said in a statement.

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