Clydesdale Bank fined £9m
Clydesdale Bank has been fined £8.9 million by the City regulator after it forced 22,000 customers into higher mortgage repayments when it tried to correct an error by staff.
Clydesdale Bank fined £8.9 million by regulator
Clydesdale Bank has been fined £8.9 million by the City regulator after it forced 22,000 customers into higher mortgage repayments in order to rectify a previous error by bank staff.
The Financial Conduct Authority (FCA) said Clydesdale had failed to clearly spell out customers' rights following the bank's miscalculation on the repayments on more than 42,500 mortgages.
The earlier mistake meant a total shortfall of £21.2 million in Clydesdale mortgages, with customers who underpaid left with outstanding mortgage balances higher than they should have been.
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