Lloyds to take back £2m bonuses Lloyds Banking Group is to claw back bonuses worth around £2 million in the wake of the mis-selling of payment protection insurance. Former chief executive Eric Daniels will lose up to £700,000 of his £1.45 million bonus for 2010, while three other current and former directors will each have to forgo up to £250,000. A further six executives, below board level, will be stripped of around £100,000 each, according to reports. Amid pressure from politicians and the Financial Services Authority, it will be the first time a bank has used a claw-back option on executive pay packages since the financial crisis. The mis-selling scandal, which involved the sale of insurance alongside loans to cover repayments if borrowers fell ill or lost their jobs, forced the group to set aside £3.2 billion to cover compensation for affected customers.