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Gloucestershire Business News

Lloyds ticked off

Lloyds Banking Group has been reprimanded by the Competition and Markets Authority (CMA) over information for SMEs.

Lloyds, which has a headquarters in Barnwood, failed to publish information about the terms of its lending to SMEs on part of its website, as reported by The Times.

The CMA said the issue, between June 2020 and March 2021, potentially affected 503 business customers.

The affected businesses would have found it more difficult to understand and compare features of a loan with other lenders.

Lloyds itself informed CMA of the issue, which it has now put right.

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