Lloyds TSB scrap sales incentives

It was widely reported in the press last week that Lloyds Banking Group are scrapping “all incentives linked to product sales in the latest attempt to clean up bad practices”

I wonder if the announcement will include their factoring and invoice discounting subsidiary Lloyds TSB Commercial Finance Ltd as if they are no longer going to pay commissions on new accounts that is going to affect at least two of the high profile factoring broking outfits who have grown fat on introducing companies to their own bank in return for a sizeable commission.

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