The FCA issues TSB a £10.9m fine for not treating customers fairly

The Financial Conduct Authority (FCA) has fined TSB Bank £10.9 million for failing to ensure fair treatment of customers who were in arrears.

The bank's lack of adequate systems and controls resulted in potentially unfair outcomes for hundreds of thousands of customers, leading to significant financial and emotional distress.

Between June 2014 and March 2020, TSB's processes for handling arrears were found to be inadequate, putting customers at risk of being tied to unrealistic repayment plans.

An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.