Lloyds Banking Group has been in the news recently for announcing a significant restructuring plan that involves cutting 1,600 jobs across its branch network while creating 830 new roles in an expanded 'relationship growth' team. This move reflects the bank's shift towards online banking and adapting to changing consumer preferences. Additionally, the Financial Conduct Authority is investigating potential unfair pricing practices in car loans, which has implications for Lloyds and other financial institutions.
Lloyds Banking Group plc is a major British financial institution formed in 2009 through the acquisition of HBOS by Lloyds TSB. The Group's history dates back to the founding of the Bank of Scotland in 1695. Lloyds Banking Group offers a wide range of financial services, including retail and commercial banking, insurance, and wealth management. It is one of the largest and most well-known banking groups in the UK, with a significant presence in the financial sector. The Group has faced various challenges and regulatory scrutiny over the years but remains a key player in the British banking industry.
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Lloyds Banking Group is cutting 1,600 jobs across its branch network as part of a move towards online banking, while creating 830 new roles in an expanded 'relationship growth' team.
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The Financial Conduct Authority is investigating whether consumers were unfairly charged inflated prices for car loans on new and secondhand cars.
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