- 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.
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