- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-10-15T19:28:00
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 said.
TSB’s repayment plans between June 2014 and March 2020, for customers under water on its loans and other borrowing programs were unrealistic and risked being unaffordable. The proposed fees for these customers, about 232,849 people, were inappropriate, the FCA said.
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2024-10-02T18:22:00Z By Aaron Nicodemus
The U.K.’s Financial Conduct Authority fined Starling Bank, Britain’s first digital bank, nearly 29 million pounds (U.S. $38.5 million) for repeated failures related to onboarding high-risk customers.
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The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
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The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
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The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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