Bank of Scotland fined £4.2 million for poor record keeping
The Financial Services Authority has fined Bank of Scotland (BoS) £4.2 million for failing to keep accurate mortgage records for 25,000 of its customers.
Information held on two separate unaligned computer systems led to confusing standard variable rate data being sent out to customers. Bank of Scotland incorrectly paid 22,700 customers around £20 million in compensation.
October 26, 2012
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
As seen in
