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-0.000213385063045606 0 0 0.00193986420950529 0 0.00581959262851605 0.00486905916585841 0.00775945683802134
Stock impact report

Lloyds under fire for selling customer data [Yahoo! Finance]

Lloyds Banking Group Plc American Depositary Shares (LYG) 
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
Company Research Source: Yahoo! Finance
The high-street lender, which has 28 million customers across Britain, already sells anonymised data on customer accounts but is planning to expand the business to grow its revenues, according to the Financial Times. It forms part of what has been called Technology Strategy 3.0 , a new cost-cutting and revenue-boosting push led by Vic Weigler, the chief technology officer. The plans prompted a furious reaction from unions and privacy campaigners. Lloyds Bank is already under fire for using data from its employees' personal bank accounts in pay talks with trade unions. Mark Brown, the general secretary of the Affinity, a union for Lloyds staff that the bank does not officially recognise, said: “Staff are still angry about having their personal bank accounts ransacked by Lloyds. “The fact that Lloyds is now planning to do the same to customers for profit is deeply unethical and will undermine trust that's fundamental to banking.” In a letter to Lloyds Bank staff, the union vo Show less Read more
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