UK regulator fines CT Capital for unfair PPI complaint handling

June 1, 2016 12:41 PM

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LONDON, June 1 Britain's financial markets regulator has fined CT Capital, a UK parent company for a group of lenders and loan brokers, 2.4 million pounds ($3.4 million) for "serious failings" in handling complaints about Payment Protection Insurance (PPI).

The Financial Conduct Authority (FCA) said on Wednesday that customers missed out on compensation they were entitled to after CT Capital failed to put in place appropriate processes to deal with 6,669 PPI complaints between May 2011 and November 2013.

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