Monthly Archives: June 2010
A part of banking group HSBC called HFC were fined £1m over failings from PPI (payment protection insurance). The financial Services Authority (FSA) advised that HFC failed to ensure its customers received correct advice between January 2005 and May 2007.
The Financial Services Authority (FSA) fined GE Capital Bank (one of the UK’s largest providers of store cards) – £610,000 for mis-selling PPI (payment protection insurance) to its customers. The FSA advised that GE Capital Bank had failed to put adequate systems in place to control sales of PPI sold alongside their credit cards, loans and store cards.
Alliance & Leicester have been fined a record £7m by the City Watchdog for three years of mis-selling PPI (payment protection insurance) to customers. The Financial Services Authority (FSA) advised that the failings of the bank were the most serious they had ever seen (as of 2007).