Opportunities missed on Rock errors

AOL Money Staff
Northern Rock
Northern Rock

Several opportunities were missed to correct errors in the wording of documents sent out by Northern Rock, which left the bank in breach of consumer credit laws, a report has found.

After the faults were finally spotted last year, UK Asset Resolution - the holding company which manages Government-owed parts of Northern Rock - said customers would be compensated for interest charged during the period when their documentation was not compliant, at an expected cost of around £270 million.