Mortgage customers of Clydesdale and Yorkshire Bank will be compensated after being treated unfairly when the bank tried to fix a miscalculation.
The Financial Conduct Authority (FCA) has fined the bank £8.9m because customers had to make up for the bank's errors in 42,500 accounts. The FCA said Clydesdale's response was too concerned with its own commercial interests. The bank has apologised. Around 22,000 customers will receive payouts of between £20 and £18,000.

Higher repayments

The calculation errors on customers' mortgage repayment demands occurred over a four-year period to 2009. Those with variable rate home loans were affected. As a result, these 22,000 customers had underpaid on their mortgages. They were subsequently expected to increase their monthly repayments to cover for the shortfalls and correct the error.....Read more here