Lloyds demands tighter cut-off point for PPI claims

Bank urges Financial Conduct Authority to set smaller time bar for claims, after saying its total payouts for mis-sold insurance nears £14bnLloyds Banking Group intends to lobby the City regulator for a tighter cut-off point for customers’ claims on payment protection insurance compensation, as its bill for the scandal reaches almost £14bn.The bailed out bank took another £500m provision for PPI in the third quarter and also admitted it was facing an additional charge of