Lloyds to claw back bonuses over PPI mis-selling

Lloyds Banking Group has said it will claw back up to £2 million in bonuses from ten senior bankers, including former chief executive Eric Daniels, for their part in the mis-selling of payment protection insurance (PPI). Lloyds is the first bank to claw back payments in this way and Daniels is expected to lose up to 50 per cent of his £1.45m bonus for 2010.