Santander Earmarks £58M To Compensate Credit-Card Customers

Law360, London (January 31, 2019, 4:28 PM GMT) -- Santander UK PLC has revealed it has put aside £58 million ($76 million) to compensate consumers of its credit operation in what appears to be the latest attempt by the bank to put conduct issues behind it.

The British arm of the Spanish-owned bank revealed it was setting aside the compensation pot but declined to reveal further details.

“This charge is management’s current best estimate as we continue to assess the scope of this issue,” Santander said as it published its latest results on Wednesday.

In a separate development, Santander was fined £32.8 million by the Financial Conduct Authority in December for “serious...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS