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08:44 EDTLYG
theflyonthewall.com: Lloyds Banking seeks dismissal of overdraft fee cases, BBC News reports
A spokeswoman for Lloyds Banking Group (LYG) explained that its lawyers would be asking local judges to apply the principles of a recent Supreme Court ruling, and would ask for the dismissal of thousands of overdraft fee cases logged against the company, BBC News reports. The Supreme Court ruled this week that the OFT could not decide the charges were unfair under consumer legislation. The OFT is currently pondering whether or not to attack the fairness of overdraft charges under other aspects of the consumer contract rules, or whether it should trigger a full scale competition enquiry into the bank's charges. Reference Link :theflyonthewall.com



News For LYG From The Last 14 Days
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March 9, 2010
07:54 EDTLYG
theflyonthewall.com: Moody's says some U.K. banks may see bond ratings downgrades, WSJ reports

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March 3, 2010
06:16 EDTLYG
theflyonthewall.com: Lloyds Banking investors want clarity over CEO's bonus, Guardian reports
Lloyds Banking Group (LYG) shareholders are asking for clarity about the performance criteria which were used to decide that the CEO J. E. Daniels was entitled to his maximum payout of GBP2.3M, the Guardian reports. While Daniels immediately turned down the payment in an effort to deflect criticism of bankers' pay, shareholders still want clarity. Lloyds disappointed investors last week with the size of its 2009 losses, which showed the extent of the problems stored inside HBOS, the operation it rescued in September 2008. Reference Link :theflyonthewall.com

February 26, 2010
07:41 EDTLYG
theflyonthewall.com: Lloyds Banking expects improvements this year, WSJ reports

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