The Financial Conduct Authority (FCA) has fined three former senior executives of insurance firm Swinton Group Limited (Swinton) £928,000.
Lloyds Banking Group has set aside an extra £900m in payment protection insurance (PPI) provisions and confirmed it will cut 9,000 jobs as part of a switch from high street to digital banking.
The Financial Conduct Authority (FCA) has reported that firms have improved the way they handle complaints in its latest update on PPI redress work.
Complaints data published by the FCA has showed 2,479,029 new complaints opened against financial services firms between July and December 2013.
Lloyds Banking Group has been accused of using a regulatory loophole to cut the amount of compensation it pays to customers mis-sold payment protection insurance (PPI), a BBC investigation has claimed.