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Egg fined over £700,000 for misleading customers
Online banking company Egg have been fined £721,000 for ‘serious failings' in sales of payment protection insurance (PPI) to its credit card customers.
The financial services authority (FSA) revealed that it found failings in around 40% of telephone sales to its customers from January 2005 to December 2007.
The FSA found that Egg staff were instructed to over-emphasise the positive features of PPI, and in some cases it was applied to customer's cards without their consent.
Post Date: December 11th, 2008
The financial services authority (FSA) revealed that it found failings in around 40% of telephone sales to its customers from January 2005 to December 2007.
The FSA found that Egg staff were instructed to over-emphasise the positive features of PPI, and in some cases it was applied to customer's cards without their consent.
Post Date: December 11th, 2008
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