U.K. financial sector hit with £1.3B fine for more mis-selling


The U.K.'s Financial Conduct Authority has reached a settlement of up to £1.3B ($2.04B) with banks, credit-card issuers and insurer CPP to compensate customers for mis-sold credit-card insurance.

The firms involved include Lloyds (LYG), Barclays (BCS), HSBC (HBC), Morgan Stanley (MS), Santander (SAN), Capital One (COF) and RBS (RBS).

The deal is dependent on customer and court approval.

The agreement adds to the billions of pounds in fines that banks have paid for mis-selling other financial products. (PR)

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Comments (1)
  • AJSM
    , contributor
    Comments (2) | Send Message
     
    AFAIK, Lloyds did not use CPP so should not be on the list
    22 Aug 2013, 03:57 PM Reply Like
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