Basic Search  |  Summaries  |  Advanced SearchPenalty: £550,000
Year: 2020
Date: 19 March, 2020
Offence Group: consumer-protection-related offences
Offence Type: insurance violation
Violation Description: The CMA issued legally binding directions to Paymentshield to refund customers and put in place measures to prevent a repeat of the incident after customers failed to receive annual reminders in relation to their mortgage payment protection insurances. The company had already repaid £380,000 with a further £170,000 estimated.
Action Type: agency action
Agency: Competition and Markets Authority
Source of Data: (click here)