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UPDATE 2-Ex-Lloyds Bank CEO says most PPI policies not mis-sold

* Daniels says about half of PPI complaints are false * Daniels says most customers buying PPI got good value * Ombudsman data shows Lloyds loses 98 pct of cases * Lloyds has set aside 5.3 bln stg for compensation By Matt Scuffham LONDON, Feb 14 (Reuters) - The former head of Britain's biggest retail bank said the majority of insurance policies taken out on loans and mortgages were not mis-sold, blaming false claims for the rising bill for banks paying compensation.
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