This week saw the re-emergence of a new name in British banking, with the creation of TSB. Formed from 600 branches of Lloyds Group, it has 5 million customers and promises to focus on local customers and businesses.The divestment of the branches was mandated by the EU as part of the state bailout of Lloyds during the banking crisis. Originally due to be sold to Co-Operative Bank, when that deal f...
In the past the UK utility industry has had a poor reputation for customer service. This has led to tough action from regulator Ofgem, for example fining npower £2 million and British Gas £2.5m for mishandling customer complaints in 2011.This week the government launched a new raft of planned measures that will tighten protection for consumers even further. These include direct compens...
When it comes to poor customer service, companies selling financial products, from insurance to bank accounts never seem to be out of the news. Hot on the heels of record payouts for the misselling of Payment Protection Insurance (PPI), card and identity protection company CPP is being investigated by the Financial Services Authority (FSA) for ‘alleged failings in sales calls’.Against ...