Bristol Post

Lloyds fined £91m

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LLOYDS Banking Group’s insurance division has been fined £91 million for misleading customers over home insurance.

The Financial Conduct Authority (FCA) said the bank sent out nine million letters to customers between 2009 and 2017 claiming renewal quotes were offering a “competitiv­e price”.

But the bank would be offering lower quotes to new customers for the same product.

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