FSA fines Capital One for PPI sales failures
The Financial Services Authority (FSA) has today fined Capital One Bank (Europe) Plc (Capital One) £175,000 for failing to have adequate systems and controls for selling Payment Protection Insurance (PPI) insurance and for failing to treat its customers fairly.
From January 2005 to April 2006, Capital One failed to ensure that 50,000 customers received important information about the policy including all exclusions although they did receive a policy summary
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