Lloyds Takes Further $426 Million Provision for U.K. PPI Claims

Lloyds Banking Group Plc will take a 350 million-pound provision for improperly sold loan insurance in the first quarter after the U.K. regulator extended a deadline for complaints. The charge is in response to the Financial Conduct Authority’s policy statement on payment protection insurance issued on March 2, and won’t impact the bank’s earnings guidance, the London-based company said in a statement on Friday.