1 of 1
Story summary
- Lloyds Banking Group disclosed an IT glitch exposing nearly 500,000 customers' data during a March 12 software update.
- The breach affected Lloyds and Halifax users, with no financial losses reported.
- Lloyds compensated 3,625 customers with £139,000 for distress.
- Committee chair Dame Meg Hillier noted the convenience–error trade-off in modern banking and urged improvements.
- Lloyds will cooperate with regulators and provide further updates in April and September.
