- Lloyds Banking Group is under scrutiny from a powerful parliamentary committee following a significant data breach last week, which allowed some customers to view other users' financial transactions via their banking apps.
- The Treasury Committee, chaired by Dame Meg Hillier, has formally written to Lloyds' chief executive, Charlie Nunn, demanding comprehensive details about the incident.
- Dame Meg's letter specifically requests information on the number of affected customers, expected compensation payouts, and the precise nature of the sensitive data that became visible.
- Lloyds is required to provide an initial assessment of any customers affected by financial crime within one month, and a full description of the incident and preventative steps within six months.
- The Financial Conduct Authority (FCA) is also in contact with Lloyds to understand the situation, while Lloyds has apologised to customers and is investigating the cause.
IN FULL
Lloyds faces questions over ‘troubling’ banking app glitch that showed other users’ transactions
