Friends Provident Fined £675k
Company fined for poor handling of mortgage endowment complaints
17th December 2003
Friends Provident has been fined £675,000 by the Financial Services Authority (FSA), who said that the company's past complaints procedure was 'biased against customers'.
Around 5,500 legitimate mortgage endowment complaints were rejected between March 2000 and February 2003, when the problems were identified and new procedures put in place.
The company is now reviewing all rejected complaints from that period.
Read More: Financial Services Authority, Guardian Report, BBC News Report
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