HSBC faces £40m bill for mis-selling to elderly in care


Regulatory failure or further evidence of a culture implicitly “endorsed” and underwritten by Government?

Och well, so long as they say “sorry”!

Unsuitable sales of this product were made to 87% of NHFA customers, prompting the largest retail fine to date from the Financial Services Authority (FSA).

HSBC will pay £29.3m compensation and said it was “profoundly sorry”.

via BBC News – HSBC faces £40m bill for mis-selling to elderly in care.

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