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Lloyds bank fined £4.3m over PPI compensation delay

19 February 2013 Last updated at 14:05 GMT

Lloyds Banking Group has been fined £4.3m for delaying compensation to customers who were mis-sold Payment Protection Insurance (PPI).

The Financial Services Authority was scathing in its criticism of Lloyds, which made up to 140,000 of its customers wait more than a month for their money, as Simon Gompertz explains.