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Homeserve fined for IT failings that led to customers being overcharged

Anh Nguyen | Feb. 17, 2014
The Financial Conduct Authority (FCA) has fined Homeserve Membership Limited £30.6 million for regulation breaches, including IT failings that led to customers being overcharged.

These customers have now received compensation totalling £918,210 from Homeserve.

Tracey McDermott, the FCA's director of enforcement and financial crime, said: "This is a serious case, one that has warranted our largest retail conduct fine and generated a sizeable bill for consumer redress. HomeServe is another example of a firm that has acted without proper regard for its customers over a long period of time."


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