TSB Faces Heavy Fine for Poor Borrower Treatment
Thursday, 10 October 2024, 09:00
TSB's Punitive Fine
In a serious move, TSB has received a £10.9M fine from the Financial Conduct Authority (FCA) due to its 'woeful' treatment of borrowers who are in arrears. The FCA found that many customers were not treated fairly, leading to this significant penalty.
Details of the Fine
- Amount: £10.9 Million
- Regulator: Financial Conduct Authority (FCA)
- Reason: Treating borrowers in arrears poorly
This outcome reveals the importance of fair practices within financial institutions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.