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FCA Fines Banks £64m for Arrears Handling

11 June

The FCA has today fined Lloyds Bank plc, Bank of Scotland plc and The Mortgage Business plc £64,046,800 for breaches of Principles 3 and 6 in relation to their handling of mortgage customers in payment difficulties or arrears. Between April 2011 and December 2015 the banks’ systems and procedures for gathering information from mortgagors in payment […]