FCA fines Clydesdale Bank a record £21m over PPI complaints

Regulator rules bank had lax procedures on payment protection insurance and misled financial ombudsmanThe Financial Conduct Authority has fined Clydesdale Bank almost £21m for poor treatment of what could be more than 100,000 customers seeking compensation over payment protection insurance (PPI).The £20.7m fine is the biggest by the regulator for a company’s mishandling of PPI complaints. As well as using sloppy procedures, Clydesdale misled the Financial Ombudsman Service, which a