FCA Fines HSBC UK Bank, HSBC Bank And Marks And Spencer Financial Services

(RTTNews) - The FCA has fined HSBC UK Bank plc, HSBC Bank plc and Marks and Spencer Financial Services plc 6.2 million pounds for failures in its treatment of customers who were in arrears or experiencing financial difficulty.?HSBC agreed to settle the case and qualified for a 30% discount to the financial penalty imposed, which would otherwise have been 8.97 million pounds.?

Between June 2017 and October 2018, HSBC failed to properly consider people's circumstances when they had missed payments. The failings were caused by deficiencies in HSBC's policies and procedures.