Lloyds Bank – We want to remediate – It’s good to talk!
We are a group of Lloyds Bank victims who want resolution and recompense for the fraudulent behaviour of Lloyds bank in stealing our assets and destroying our lives. Like our compatriots at Virgin Money UK – NAB Remediation Support Group, we are not going away. We are a founding member of Banking Victims For A Future 2020 +
Lloyds Banking Group Share Price
Tuesday 01 March 2011 – 62 p per share (current CEO appointed).
Wednesday 27 August 2014 – 76 p per share
Monday 27 August 2018 – 50 p per share (-52%)
Tuesday 27 August 2019 – 49 p per share
Check the current share price here. (opens in a new window)
31 March 2018 - Lloyds Bank peak and outstanding financial support
Lloyds Banner Fraud Protest
In Parliament / Regulator
The report draws together the findings of the Financial Conduct Authority
(FCA) and the Prudential Regulation Authority’s (PRA) review into the failure of HBOS, Andrew Green QC’s review of the enforcement decisions taken by the regulator, the independent review of these two reports by the Treasury Committee’s specialist advisers and oral evidence taken from the publishers of all three reports.
The Treasury Committee and the perimeter
13. Concerns about the perimeter and its complexity have featured in the work of previous Treasury Committees. The Treasury Committee in the 2010–15 Parliament concluded in its Report Conduct and competition in SME lending that so-called Tailored Business Loans (TBL) sold by Clydesdale bank had specifically been designed with the perimeter in mind:
From the point of view of the customer, the services provided by the hedging element of a loan with an embedded interest rate hedging facility—such as a Tailored Business Loan—and a stand-alone IRHP [Interest rate hedging product] are extremely similar, if not identical. But stand-alone IRHPs are regulated, while loans with embedded interest rate hedging facilities are not. It is a logically inconsistent result of the perimeter of regulation that products whose effects may be identical fall on both sides of the perimeter.
Clydesdale understood that TBLs were unregulated. It created TBLs to avoid requirements imposed by the regulator on the sale of a regulated product, IRHPs. It claims that this was to simplify the associated documentation and to make the product easier for customers to understand. The use of TBLs has left regulators powerless to enforce compensation for customers to whom products were mis-sold, as they have done with IRHPs. Clydesdale created a product that retained the risks and complexities of the regulated product but had none of the safeguards. 11
14. Issues around the perimeter have also been present in the work of the current Treasury Committee. The following list provides examples of topics the Committee has considered or queried that have elements of perimeter complexity to them:
- RBS’ Global Restructuring Group (GRG), and the wider issue of SME lending.
- ‘Mortgage prisoners’ (those who face barriers to switching their mortgage).
- The failure of London Capital and Finance, and wider questions around the regulation of so-called ‘mini-bonds’.
- The regulation of Cryptoassets.
- The regulation of Funeral plans.
15. Many of these issues have seen significant harm done to consumers and small businesses. For example, in the course of its work, this Committee has heard first hand the considerable distress to SME owners brought about by RBS GRG. In part, it led this Committee to initiate its wider inquiry and Report into SME Finance. Subsequently, there has been widespread disappointment at the FCA’s inability to take action following its publication of its Report on the Financial Conduct Authority’s further investigative steps in relation to RBS GRG, due to the constraints of the Perimeter.12 Mr Bailey, when asked whether he would recognise that “there will be individuals out there who feel they have not had justice?”, replied “Yes, but I cannot operate outside the law. I am sorry”.13
16. The perimeter of regulation, as has been seen in the Committee’s work, appears to be confusing for consumers of financial services, whether they be individuals or small businesses. In fact, that lack of understanding may well be preyed upon. Some firms may also deliberately game the perimeter to undertake regulatory arbitrage.
17. Care needs to especially be taken where regulated financial institutions are undertaking an activity that is itself unregulated. Often the realisation that an activity is unregulated comes only after problems emerge, and the regulator’s lack of power becomes apparent to those affected.
18. The Committee recommends that where regulated financial institutions undertake unregulated activity, the regulatory system should ensure that clear and explicit warnings are provided at that point, with the potential consequences of the lack of regulatory cover clearly explained, with sanctions for firms that fail to do so. HMG / HMT response to the report is outstanding.
HMT response to Regulatory Perimeter report on 10 October 2019 Interim Chair Catherine McKinnell said “It was disappointing <..> that the Government does not see the case for providing a formal power for the FCA to request changes to the perimeter.”
In the FCA’s response, which the Committee received on the 14 October and has published today, Andrew Bailey, Chief Executive of the FCA, said: “We share the Committee’s view that there could be a more structured and transparent approach for identifying and engaging with HMT on perimeter changes. This could allow for a regular opportunity to consider what activities are covered by regulation, and hence transparency surrounding changes to the FCA regulatory perimeter.”
Commenting on the FCA’s correspondence, Ms McKinnell said:
“The Treasury Committee has recommended that the FCA is given the formal power to suggest changes to the Government over what it regulates, which could help the FCA to protect consumers.”
“Disappointedly, yet perhaps unsurprisingly, the Government rejected our recommendation, opting instead to keep the opaque system as it is.”
“The independent FCA, on the other hand, shares our view, rather than the Government’s that a more formal or structured approach would provide greater transparency to the process”
“The Committee awaits the work promised by both the FCA and the Government, and we will continue to raise these issues in our evidence sessions.”
31 October 2017 Brian Little email exchanges with SS – then Parliamentary aide to John Mann MP
SS – Great re John’s Perimeter Question / comment at TSC this morning, following our discussion and sight of the attached letter from my MP Jim Shannon
Hi Brian, “Yes—the main committee sent it to us as part of their briefing back on Friday. Hope that you felt the questioning covered good ground.”
Q50 John Mann: ………………. One final question/request is that you referred earlier to things being outside the regulatory perimeter. I have heard that before from you and your predecessors, and indeed on a totally separate issue with the Advertising Standards Authority, which is in similar dialogue over your powers in terms of currency exchange.
Andrew Bailey: That is not a perimeter issue.
Q51 John Mann: It is indeed. It is an entirely different aspect. In terms of my question, would you be prepared to provide to this Committee—and it might take some time, but we are not in a rush—the precise areas of powers that you do not have that it would be useful for this Committee to consider whether you should have, both in relation to the GRG issue and what you describe as being outside the regulatory perimeter, but perhaps for other issues as well? That is something that we have never had. It is a big piece of work but, for a new Committee coming into a five year Parliament—possibly, legally, that is our presumption and our mandate is for five years—it would be significantly useful to the work of this Committee. I am not asking you which ones you desperately think you should have, and we might come back to you on that of course, but which ones you do not have so that, when you are saying, “We cannot do it,” be it in correspondence or be it in exchange, we are clear, so we can think through what our responsibilities and powers are to change that.
Andrew Bailey: The answer to that is yes. I agree with you it is a good idea. It is a good idea also because, as I said earlier, it has changed in interpretation as a result of the senior managers regime, which we are still introducing by the way, because we have a very big roll-out of that to the non-bank world next year, so I agree with you. We know the case we are talking about. The issue with the Advertising Standards Authority is we do not think we have the power to enforce their decision. It is not really a perimeter issue.
John Mann: I am sure in a future meeting we will come to that. The Chair would rule me out if I went on to that now, although it is a very important issue. I would need several questions, so I will defer that.
Read how this bank games its customers.
Bait & Switch
Victims of Lloyds Banking Group have taken to the street to bring greater awareness of the “Bait & Switch” frauds that have been engineered by the UK’s largest bank
Victims of Lloyds Banking Group have taken to the street to bring greater awareness of the “Bait & Switch” frauds that have been engineered by the UK’s largest bank. Where customers have been groomed into toxic debt situations and false land registry originator charges that banks have been orchestrating defaults to steal customers assets.
2006 Fraud Act
When Party “A” deceives Party “B” for Party “A”s gain, Party “B”s loss or both. For the intended permanent loss of property (bricks and mortar, money, chattels, intellectual property)
Suicides/ Children Self Harming
Sadly, following our LBG victims and other bank fraud victims coming near suicide in the last couple of years. Sadly, around 5 victims’ children have made suicide threats/self-harmed.
Mental Health Abuse
Lloyds Banking Group plays on sponsoring Mental Health charities. When in fact it uses filthy tactics and abuse to impose mental torture.
Following the failure of Avon & Somerset Police and it’s Police Crime Commissioner to investigate evidence, the Avon & Somerset Police Crime Panel invited PCC Anthony Stansfeld (Thames Valley Police) to investigate.
Foreign Bankers and UK lawyers
are Breaching UK Peoples Human Rights to Protect their Property.
failure of High Contracting Parties (Courts) to provide: Article 13 – fair redress and failure of fair remedy for the protection of Property.
failure of Fair Trials which breaches Magna Carta too. Article 2 and Article 3 – failure of Right to Life and Freedom from Torture, as bank fraud takes your life over.
failure of security, as banks are using false bailiffs and police are assisting in a breach of lawful procedures.
banks abuse in the thefts abuse victims private and family life. Article 40/41 – failure of banks to provide evidence hiding their criminality whereby Courts can not provide injured parties judicial satisfaction.
Following collective efforts of victims, MP’s and Thames Valley Police Crime Commissioner, hundreds of forged signatures have come to light that banks have been using to do fraud in line with the 2006 Fraud Act, including the use of forged signatures and false documents in Courts. Bank seniors and their lawyers doing wrong must be held accountable by our MP’s who are proposing a Dispute Resolution Compensation Scheme for the estimate 60,000 victims But will the Dispute Resolution happen or will criminal bankers block justice from happening!
National Protest – Hunger Strike
Various bank victims have decided to take protest very public and mount UK collective hunger strikes in England, Scotland, Wales and N Ireland. In addition, fellow victims are taking protest to HMRC and the FCA who have been complicit in these controlled frauds.
Lloyds Remediation Support Group
SHAME ON Boris /MP’s, please stop banking fraud harming our people and introduce a Dispute Resolution!!
Are you a BSU or HBOS/ LBG victim of asset stripping or could you be a Lloyds whistleblower with information on fraud?
In the newspapers / Useful Links for Lloyds RSG Bank Victims
Royal Bank of Scotland became the last of the UK’s major banks to announce its provisions against PPI claims, and followed that of recently appointed Antonio Horta-Osario as CEO of Lloyds Banking Group last week <5 May> “which became the first of the UK’s big banks to withdraw its support for the BBA appeal as it said it had agreed a £3.2bn provision to meet PPI claims.”
Antonio Horta-Osario ; “Is to put things right, redress customers, where they should be redressed, and continue to work to get people’s trust. THIS IS OUR MOTTO. It’s to help Britain prosper….”
21 June 2019 Rachel Wolcott, Regulatory Intelligence, Reuters: FCA’s 15-month interest-rate swap redress review to hinder claims, say industry officials.
23 September 2019 – Yahoo – Lloyds Bank – António Horta-Osório speech – at SIBOS conference
Lloyds Bank (LLOYDS) came close to running out of money in 2011 as it struggled to recover from the financial crisis, its CEO has said.
(Preceded by short extracts by Brian Little in his speech to Banking Victims groups on 17 September 2019 at Conway Hall in London and please see 4 /5 May here and 10 May 2011 here).