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Lloyds to Pay $33 Million for Rejecting Customer Complaints

Lloyds Banking Group Plc’s Bank of Scotland unit must pay 20.5 million pounds ($33.3 million) for rejecting complaints over retail investment products without taking customers’ circumstances into account.

The bank was fined 3.5 million pounds by Britain’s Financial Services Authority for mishandling complaints, and agreed to pay 17 million pounds in compensation to customers, the regulator said in a statement today.