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Clydesdale Bank has become the latest victim accused of cutting its compensation bill for Payment Protection Insurance (PPI) by destroying customer details. The concerns brought forward by HUNDREDS of potential claimants say their claims were dismissed as the bank was unable to provide account records dating back more than seven years.
Clydesdale says it has simply invoked the Data Protection Act, which states files should not be kept longer than necessary.
A recent statement provided by the Financial Conduct Authority said: “Whilst we acknowledge firms have their own data retention policies, this should have no impact on how they address a customer’s complaint that stretches back beyond that point.”
Clydesdale admitted it was “reviewing” its PPI complaints handling policy, including data issues.
This is the second time in a week the bank has faced scrutiny of its practices, early last week being fined £8.9m by the UK regulator for its treatment of customers regarding mortgage payments. What next?
clydesdale ppi complaints
