Antitrust Regulator Faults RBS, Santander PPI Handling

Law360, London (August 23, 2019, 12:21 PM BST) -- Britain’s competition watchdog ordered Royal Bank of Scotland and Santander on Friday to audit the way they deal with payment protection insurance after the lenders failed to tell thousands of customers about their policies for handling those affected by misselling of the controversial cover.

The Competition and Markets Authority has rebuked Royal Bank of Scotland and Santander for failing to give customers accurate reminders of their policies on the loan insurance. (AP) Royal Bank of Scotland Group PLC and Banco Santander SA failed to provide accurate reminders of their policies to 11,000 and 3,400 customers respectively, the Competition and Markets Authority...

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