FSA fines GE Capital Bank
The Financial Services Authority has fined GE Capital Bank £610,000 for failing to have adequate sys...
The Financial Services Authority has fined GE Capital Bank £610,000 for failing to have adequate systems and controls for selling insurance that includes Payment Protection Insurance, and for failing to treat its customers fairly. GECB's main business is providing credit finance through store cards, credit cards and sales finance. FSA director of enforcement Margaret Cole said: "Millions of people take out store cards every year. They need to know that PPI is almost always optional. Our focus on
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