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Lloyds underestimating PPI claims, CMC

In the bank’s interim statement it stressed that no further payment protection insurance provision has been made in this quarter, flagging up that the volume of PPI complaints has continued to fall in line with its expectations.

However, Craig Bernhardt, chief executive of PPI complaints lobby group Emcas, said his firm had not seen signs of claims against Lloyds abating.

He said: “Our primary concern remains that consumers who have been the victim of financial mis-selling reclaim what they are entitled to and restore financial justice.”