Online bank fined over insurance mis-selling

Online bank Egg was fined £721,000 (€825,000) by British authorities today for “serious failings” in sales of payment protection insurance (PPI) to its credit card customers.

Online bank fined over insurance mis-selling
Wed, 10 Dec, 2008 - 13:13

Online bank Egg was fined £721,000 (€825,000) by British authorities today for “serious failings” in sales of payment protection insurance (PPI) to its credit card customers.

The Financial Services Authority (FSA) said it found failings in around 40% of telephone sales to Egg customers between January 2005 and last December.

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