FSA fines RBS insurance brands £2.1m

Eric Ninn
Churchill dog
Churchill dog

Severe management failings in handling customer complaints at RBS's insurance brands Direct Line and Churchill has led the FSA to slap a £2.1m fine on the bank.

The fine has been levied after the FSA launched a review of the complaint procedures of both companies in 2010, over concerns of the competency of its staff and management.