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Release Date: 23rd May 2024

To access the original FCA document, click here.


HSBC UK Bank plc, HSBC Bank plc, and Marks and Spencer Financial Services plc (collectively “HSBC”) have been fined £6,280,100 by the Financial Conduct Authority (FCA) for failing to adequately support customers in arrears or experiencing financial difficulties between June 2017 and October 2018. The fine was reduced from £8,971,600 due to HSBC’s early resolution of the matter.

Reasons for the FCA Fine:

Key Takeaways for Other Firms:


The FCA’s penalty against HSBC highlights the critical need for financial institutions to adequately support customers facing financial difficulties. Firms must implement effective systems to ensure fair treatment, appropriate forbearance, and sustainable solutions, thereby avoiding significant penalties and customer detriment.

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