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    Lloyds Banking Group use staff’s bank account data in pay review
    United Kingdom

    Lloyds Banking Group use staff’s bank account data in pay review

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    20 Comments

    1. Infinite_Society7792 on

      This is absolutely scandalous and a complete invasion of privacy. Heads should roll.

    2. BuildToSleep on

      From a employee perspective I don’t see how this is anything other than a class action waiting to happen:

      You took their data and used it without their explicit knowledge to actively make a decision to materially impact the finances of the employees.

    3. limeflavoured on

      So was their logic that if their staff had plenty of money they could give them a smaller pay rise?

      I suspect a rather large fine is heading their way in the end.

    4. buggeryorkshire on

      Many years ago the big banks required staff to bank with them, one in particular would get your manager to take your card off you if you went into overdraft!

    7. Burjennio on

      I have the DSAR docs to show they also do it to review chargeback requests for customers during fraud investigations.

      Investigate the multiple, contemporaneous phone calls, reports, and significant documented evidence provided by the customer to show the vendor is a criminal network?

      “….”

      Static non-zero figure in bank account, even with no current revenue steams?

      “Financially secure”

      Outcome: “No grounds for chargeback.”

      What is the point of even having the FOS and FCA?

    8. -starchy- on

      Imagine getting shafted for a promotion or a pay rise because you inherited money and the bank deemed you had enough.

    9. lfcsupkings321 on

      They claim to help Britain yet outsource jobs like mad with lloyd technology center. Offices for llodys staff in India to work on UK banking.

      Then they do this aswell.

    10. _Monsterguy_ on

      If these are staff accounts, rather than just accounts staff had – they will have almost certainly agreed to allow Lloyds to monitor their accounts.

      I worked for RBS +20 years ago, they had that kind of stipulation on their staff bank accounts.
      On a few occasions people were called in to speak to managers because they’re account was overdrawn etc.

    11. _Monsterguy_ on

      “We haven’t yet fully worked out what we will do differently going forward”

      I’ll just translate that –

      “We’ll make it less obvious we’re spying on you in the future”

    12. Wonderful-Medium7777 on

      Abuse of power or abuse of self perceived power? …either way disgusting and a breach of trust at minimum.

      If banks can do this to an employee think what they can do to a customer!

      Article 8 ECHR ( rights to privacy etc) incorporated into the Human Rights Act 1998 ..everyone needs to be familiar with their rights.

    15. hereforcontroversy on

      This is disgusting. I have a Lloyd’s account but will transfer away next time there’s that £200 offer to switch accounts to a different bank

    16. NoSuchWordAsGullible on

      The fact the data is aggregated is some mitigation, but obviously they would have to group people into buckets to make this useful and then it gets bad again. How did they band the cohorts of employees? By income? By seniority? By something worse?

      Another question I would be asking, and I work in this kind of space – how is this relevant for the stated business outcomes? Surely the business doesn’t state its aim to be paying staff as little as possible? So if the business aim is some garbage like “delivering better value for our customers”, how does that justify this use of data?

    17. AmazingRedDog on

      This is horrendous and lacking any fair logic.

      CEO resignation by Tuesday : make it happen Redditors.

      Edit: * ors

      Edit 2: if not challenged this will spread like cancer

    18. Wondering_Electron on

      This is the scariest and funniest thing I have read today.

      Would have loved to hear how the conversation lead to them thinking this was a good idea.

    19. alvaropuerto93 on

      I personally think that if you work in finance you must not hold under any circumstances your main bank account with the same firm you work for. I am 100% sure that many finance institutions do this with his employees.

    20. Counterpoint-4 on

      So you need to bank with other than your employer? So much for loyalty to the company!

      Oh the company is not loyal to the employee. Lloyds is breaking the law and should be fined.