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Examples
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In a traditional burst of kitchen-sinking, Mr. Horta-Osório swiftly settled a £3.2 billion $5.1 billion claim for insurance mis-selling and recognized bigger losses on various toxic assets, notably Lloyds's vast Irish real-estate exposures.
Lloyds Shares Also Showing Fatigue Simon Nixon 2011
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U.K. banks have abandoned their legal fight over the mis-selling of payment protection insurance, following the lead set by Lloyds Banking Group PLC last week, in a move that could cost them billions of pounds in compensation.
U.K. Banks End Insurance Fight Digby Larner 2011
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His face creases with laughter when asked about the decision by rival Lloyds Banking Group to break ranks with the industry and make a £3.2bn provision for mis-selling claims at the start of the month.
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"The chances of a near-term recovery remain slim as euro-zone debt concerns, structural reform and a lawsuit for allegedly mis-selling mortgage debt all weigh heavy on the sector."
European Stocks Slammed Barbara Kollmeyer 2011
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A recent investigation by consumer affairs organization Which? found that mis-selling and bad advice is rife.
Earth Savings Javier Espinoza 2011
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Bonuses handed out in the past to bankers involved in overseeing the mis-selling may now be at risk, he says.
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Providers will need to hold a consumer credit licence to provide consumers protection against mis-selling.
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And the worry that financial advisers are mis-selling products has become the most-cited ethical concern, unseating opaque derivatives markets as the top ethical issue facing global markets.
Financial Analysts Dim on 2012, Survey Shows Brendan Conway 2011
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Reuters Antonio Horta-Osario, new CEO of Lloyds Banking True, the lion's share of the losses arose from a £3.2 billion provision against possible claims over the mis-selling of consumer credit insurance.
Lloyds Boss Grapples With Grim Legacy Simon Nixon 2011
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He added: Victims of wrongdoing by multinational companies, cases like Trafigura, phone hacking, pension mis-selling or asbestosis sufferers will find it impossible to get justice.
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