July 30, 2018 / 1:28 PM / in 4 months

British lawmakers criticise Lloyds compensation scheme for HBOS fraud victims

LONDON, July 30 (Reuters) - A group of British lawmakers on Monday wrote to the financial watchdog and the board of Lloyds Banking Group, listing their concerns about the lender’s compensation scheme for victims of a major fraud at its HBOS Reading division.

The letters, signed by lawmaker Kevin Hollinrake, who chairs the All Party Parliamentary Group for Fair Business Banking, accused the bank of “victim blaming” and “a complete lack of objective methodology”.

“We have no trust in such an opaque process,” he wrote.

Lloyds could not immediately be reached for comment.

Reporting by Emma Rumney, Editing by Lawrence White

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