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RBS and NatWest whacked with a £14.4million fine

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  • #1

    RBS and NatWest whacked with a £14.4million fine

    RBS and NatWest whacked with a £14.4million fine

    This is a duplicate of the Blog Entry made on 27th August 2014 11:03.

    *for dishing out bad advice to mortgage customers* * *Only two of 164 sales reviewed met the required standard* * *Sales advisers gave...

    Click to Read More...
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    Tags: advice, bad advice, banks, business, cca, claim, claims, cold, con, contribution, costs, customers, debt, default, default notice, fca, fine, fined, fines, firm, investigations, legal, money, mortgage, natwest, pay, public, rbs, salaries, sales, size, staff, taxpayer, training
  • #2
    Re: RBS and NatWest whacked with a £14.4million fine

    Ahhhhh. I had a Natwest mortgage and AVH Legal have been trying to get in touch "about my claim" so that will explain things as they deal with mortgage claims. I wondered what they wanted. I'm still not sure how they can cold call without breaking regs though...

    This must be another one of those "sophisticated banks" with its "systems in place" and "expensive computer systems" that the courts keeping telling us don't make mistakes or mislead people or rob and steal and mislead that we keep hearing about when we try to defend a CCA claim saying that they have not complied with s78 or they didn't send a compliant default notice etc.

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    • #3
      Re: RBS and NatWest whacked with a £14.4million fine

      Who actually gets this fine money ?

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      • #4
        Re: RBS and NatWest whacked with a £14.4million fine

        Does anyone know, there's been lots of hefty fines over the years so where does all this money end up ?

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        • #5
          Re: RBS and NatWest whacked with a £14.4million fine

          contribution from another firm who've they've fined..............ie; the pennies don't exist (the buck passes around)
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          • #6
            Re: RBS and NatWest whacked with a £14.4million fine

            Originally posted by 5corpio View Post
            contribution from another firm who've they've fined..............ie; the pennies don't exist (the buck passes around)
            Sorry if I'm being thick but I don't understand

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            • #7
              Re: RBS and NatWest whacked with a £14.4million fine

              When a firm is fined it's used to offset costs within the department so in this case the FCA fines with pay for the running (and salaries) of staff / investigations / call centre / business training (FCA webinar) etc.

              These costs run into many hundreds of millions (call it a quango / whatever) but that's the basic principle of these departments; not to cost the taxpayer / public purse.
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