Bank heavily fined for PPI failures
The Financial Services Authority has fined HFC Bank over £1m for failing to take reasonable care to ensure that the advice it gave customers to buy payment protection insurance was suitable, and for failing to have adequate systems and controls for the sale of PPI.
From January 2005 to May 2007, HFC's procedures did not require advisers in its branch network to gather sufficient information about customers' circumstances and take sufficient information into
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