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Violation Tracker UK Individual Case
Company: TSB Bank plc
Current Parent Company:
Banco de Sabadell
Parent at the Time of the Penalty Announcement: Banco de Sabadell
Penalty: £102,633,093
Year: 2024
Date: 10 October, 2024
Offence Group: consumer-protection-related offences
Offence Type: consumer protection violation
Violation Description: The FCA fined TSB £10,910,500 for failing to ensure customers who were in arrears were treated fairly. TSB refunded fees and charges of £69,551,883 plus £22,170,710 interest made by mortgage, current account, loan and credit card customers during the period when the bank did not have suitable oversight of its arrears processes.
Settlement Type: Settlement with FCA
Agency: Financial Conduct Authority
HQ Country of Parent: Spain
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
Source of Data:
(click here)