UK blow for NAB

NAB's subsidiary Clydesdale Bank has been named as one of 13 banks and credit card providers involved in a mis-selling scandal in the UK. Authorities say the firms will have to pay compensation of up to £1.3 billion ($2.2 billion) to 7 million customers, who were sold insurance products that were unnecessary or wrongly described.

By InvestSMART · 23 Aug 2013

By InvestSMART ·
23 Aug 2013

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NAB's subsidiary Clydesdale Bank has been named as one of 13 banks and credit card providers involved in a mis-selling scandal in the UK. Authorities say the firms will have to pay compensation of up to £1.3 billion ($2.2 billion) to 7 million customers, who were sold insurance products that were unnecessary or wrongly described.

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UK blow for NAB

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