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GE Capital Bank

The Financial Services Authority clamped down on GE Capital Bank for rogue sales of payment protection insurance (PPI) policies. The bank also failed to have adequate systems and controls for selling insurance. Investigations revealed that insufficient sales training and unsatisfactory customer service were just few of GE Capital Bank's failings. A fine of £610,000 was levied as part of the settlement. (Jan-30-07) [CITY WIRE: PPI FRAUD]


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Published on Feb-6-07


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