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Lloyds Bank Suspends Buyback After New Mis-Sold Insurance Claims

  • British lender joins RBS, CYBG in rush of August PPI claims
  • Scandal’s costs for banks have surpassed 50 billion pounds
Lloyds Banking Group Plc Headquarters And Branches As Bank Seeks New London Office In $130 Million Cost Push
Photographer: Luke MacGregor/Bloomberg
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Lloyds Banking Group Plc suspended its share buyback after a last-minute rush of compensation claims for mis-sold payment protection insurance, taking its total costs for the scandal to 21.8 billion pounds ($26.7 billion).