Basic Search
|
Summaries
|
Advanced Search
Violation Tracker UK Individual Case
Company: Clydesdale Bank PLC
Current Parent Company:
Nationwide Building Society
Parent at the Time of the Penalty Announcement: National Australia Bank
Recap of Ownership Changes: National Australia Bank listed CYBG plc in 2016, with Clydesdale Bank as a subsidiary. CYBG acquired Virgin Money in 2018 and changed its name to Virgin Money UK plc. Nationwide bought Virgin Money in 2024.
Penalty: £20,678,300
Year: 2015
Date: 14 April, 2015
Offence Group: consumer-protection-related offences
Offence Type: insurance violation
Violation Description: Clydesdale Bank paid a £20.6 million fine in settlement of a finding by the FCA that the company did not fairly handle customers complaints about the mis-selling of Payment Protection Insurance by not handling complaints fully and providing false information to the Financial Ombudsman.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct 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)
