The Co-operative, Britain's largest mutually-owned business, paved the way for the purchase of 632 bank branches from Lloyds as it announced on Thursday that it planned to sell its general insurance arm to bolster its finances.
Britain's financial regulator fined Lloyds Banking Group $6.7 million on Monday for not paying compensation quickly enough to customers wrongly sold insurance on loans and mortgages.
Britain's financial regulator fined Lloyds Banking Group $6.7 million on Monday for not paying compensation quickly enough to customers wrongly sold insurance on loans and mortgages.
Lloyds Banking Group took another 1 billion pound ($1.6 billion) hit to compensate customers mis-sold loan insurance, taking its charge for the scandal to 5.3 billion and dragging it to a third-quarter loss.