Clydesdale Bank to pay biggest ever PPI fine
The FCA fines the bank £20.7m for handling PPI complaints incorrectly.
The Financial Conduct Authority (FCA) has fined Clydesdale Bank £20,678,300 for serious failings in its payment protection insurance (PPI) complaint handling, which is the biggest ever fine relating to PPI.
The regulator stated that Clydesdale in 2011 had implemented inappropriate policies which meant that its PPI complaint handlers did not take all relevant documents into account when deciding how to deal with complaints.
The bank also provided false information to the Financial Ombudsman
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