Santander Fined By Regulator Abbey (Formerly Abbey National) now part of Santander have been fined by the regulator.

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Santander Fined By Regulator

May 25, 2005 at 12:38 AM

Abbey (formerly Abbey National) has been fined £800,000 by the Financial Services Authority (FSA). The fine is for mishandling complaints from customers over endowment miss-selling alongside mortgages.

The FSA also said Abbey gave the regulator inaccurate information while failing to treat its customers fairly. The FSA said Abbey mishandled about 5,000 complaints between October 2001 and September 2003. Abbey which was recently taken over by Spanish bank Santander, would have been in line for a far higher fine if Santander had not acted quickly to address the problem it inherited. 

Tags: Santander
Category: Banks & Building Societies

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