I was very pleased to read the following article http://www.moneymarketing.co.uk/regulation/lloyds-to-clawback-senior-exec-bonuses-over-ppi-misselling/1046436.article the PPI scandal shows yet again the Banks are not fit for purpose in complying with the law and regulations. Why are we not also seeing prosecutions for fraud and theft? If a customer was paying for insurance they did not know they had bought there is no valid contract as there was no acceptance. The commission hungry and immoral salesmen who conducted this must be brought to justice, and some directors losing a relatively small percentage of their total remuneration should be the start rather than the end of the matter.
