Slaughter & May Slams TSB In IT Meltdown Report

Law360, London (November 19, 2019, 5:30 PM GMT) -- Board members at British bank TSB lacked “common sense” in the run-up to an IT meltdown last year that left millions of customers locked out of their accounts, an investigation by law firm Slaughter & May concluded Tuesday.

The independent review commissioned by TSB PLC last year blamed the bank and its Spanish owner Banco Sabadell SA for setting an “ambitious and unrealistic” timetable for moving customers to a new IT platform in April 2018 and said it had failed to ask its contractor key questions about the changeover.   

The crash left 1.9 million customers without access to cash, prompting regulators...

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