FCA fines Clydesdale Bank record £20m for trying to dodge PPI redress

The fine is the largest ever imposed by the FCA for errors related to PPI. Clydesdale's conduct means that of the 126,600 PPI complaints decided by it between May 2011 and July 2013, up to 42,200 may have been rejected unfairly and up to 50,900 upheld complaints may have resulted in inadequate redress for customers, the FCA said. Complaint handlers failed to identify cases where the PPI policy sold was unsuitable for the customer, the FCA said, and there were deficiencies in the training and monitoring of complaint handlers. The regulator said the size of the fine also reflects the...