Clydesbank/Yorkshire Bank Hit With £20m PPI Fine

[citizenB]

The failings also relate to Yorkshire Bank, which is a sister business of Clydesdale within parent company National Australia Bank

 

 

 

Clydesdale Bank has been fined a record £20.7 million for "serious failings" in the way it handled PPI complaints.

The Financial Conduct Authority (FCA) said staff from the Glasgow-based lender failed to take into account all relevant documents when deciding how to deal with complaints.

 

It also provided false information to the Financial Ombudsman Service in response to requests for evidence of the records Clydesdale held on PPI policies sold to individual customers.

 

The matters relate to complaint handling processes between May 2011 and July 2013 and have resulted in the largest ever fine imposed by the FCA for failings relating to PPI.

 

http://www.clyde2.com/localnews/clydesbank-bank-hit-with-20m-ppi-fine/

 

 

The banks are now reviewing all PPI complaints handled prior to last August and have offered redress to any customers impacted by the failings.

[BankFodder]

Oh dear,

how sad

 

Never mind

[alisindebt]

According to one media report, one department was responsible for cooking the books; senior management "apparently" didn't know, so they claim.

 

Really?

 

And junior staff got no benefit themselves, so were e presumably doing this out of the goodness of their hearts to help the bank?

[silverfox1961]

This today from the FCA

 

The Financial Conduct Authority (FCA) has today fined Clydesdale Bank Plc (Clydesdale) £20,678,300 for serious failings in its Payment Protection Insurance (PPI) complaint handling processes between May 2011 and July 2013. This is the largest ever fine imposed by the FCA for failings relating to PPI.

 

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

 

If you have had a complaint re PPI turned down, it may be worth revisiting this issue.

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?444375-Clydesbank-Bank-Hit-With-£20m-PPI-Fine

[caro]

Couldn't happen to a better bunch of bankers.

[alisindebt]

Got all my PPI back: you can e the details if you follow my name on here. It was like pulling teeth, but I got there in the end.

 

The worst person I dealt with was at CapQuest, a DCA, who lied to me and cheated me out of money; again, look up my posts on here.

 

Back specifically to these two banks.

 

What they are doing, and have done, is immoral. If you have been ripped off by them, please claim your money back.

[JOHNINYORK]

Relating to the same topic,this is from the Daily Mail.

 

http://www.dailymail.co.uk/news/article-3039183/Why-aren-t-lying-bankers-prison-MPs-demand-police-inquiry-lender-fined-21m-duping-regulator-avoid-compensating-PPI-victims.html

 

Regards,John.

[alisindebt]

There are now calls in the Daily Mail article, submitted above, for a police investigation.

 

Is there a petition we can sign, or some other way of pressing for police investigation and possible criminal charges being brought about?

[MSAR]

You'll find my battle somewhere on this site. Signed up for a new credit card account with Clydesdale by post back in 1991. They had the opt-out box with the confusing small print back 25 years too. Out of the 40 or so different opt-out boxes, that was the one box that had reverse logic and small print.

 

Someone had to design that form. Someone had to provide a specification for that form. Someone had to approve the design of that form. That was 25 years ago. In all probability, those individuals will have moved on elsewhere.

[MSAR]

Will it affect anyone who got compensation after taking the case to the Financial Ombudsman?

[dx100uk]

hopefully they'll now reopen all cases

 

 

dx