TSB fined £10.9 million over ‘woeful systems and controls’ for struggling customers

The Financial Conduct Authority issued the fine for historic failings by TSB after mortgage, loan and credit card customers were treated unfairly

tsb branch
(Image credit: Getty Images)

TSB has been fined £10.9 million for failing to ensure customers in arrears were treated fairly.

The Financial Conduct Authority (FCA) issued the penalty, warning that historic failings meant the bank previously lacked suitable systems and controls to secure fair outcomes for customers.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.