FCA fines Clydesdale Bank $30 Million


Georgina Philippou, acting director of enforcement and market oversight at the FCA said:

"Clydesdale’s failings were unacceptable and fell well below the standard the FCA expects. The fact that Clydesdale misled the Financial Ombudsman by providing false information about the information it held is particularly serious and this is reflected in the size of the fine.

"We have been very clear about how firms should treat customers who may have been mis-sold PPI. In ignoring documents it held which were relevant to its customers’ complaints, Clydesdale failed to treat its customers fairly."

More here: http://fca.org.uk/news/clydesdale-bank-fined-for-serious-failings-in-ppi-complaint-handling