TSB Bank has been fined 10.9 million pounds (U.S. $14.2 million) for treating retail customers poorly while they were in arrears on mortgages, credit cards, loans, and overdraft accounts, the Financial Conduct Authority (FCA) said.
TSB also failed to have adequate controls in place to ensure customers facing financial hardship were treated fairly, the FCA alleged in a press release Wednesday. The bank also paid £99.9 million (U.S. $129 million) in redress to the affected customers, in addition to the fine, the agency noted.
