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Violation Tracker UK Individual Case

Company: Nationwide Building Society
Current Parent CompanyNationwide Building Society
Parent at the Time of the Penalty Announcement: Nationwide Building Society
Penalty: £0
Year: 2020
Date: 8 July, 2020
Offence Group: consumer-protection-related offences
Offence Type: insurance violation
Violation Description: The CMA informed Nationwide that it was disappointed an audit of compliance procedures at the bank uncovered another breach of the 2011 Payment Protection Insurance Market Order, where Annual Reviews of PPI were not sent to customers to enable them to compare its cost against other providers and remind them of their entitlement to cancel.
Action Type: agency action
Agency: Competition and Markets Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: mutual
Major Industry of Parent: financial services
Specific Industry of Parent: building society
Source of Data(click here)