£1,775 payout for Rock customers

Updated
Northern Rock
Northern Rock

Some 152,000 former customers of defunct bank Northern Rock are to receive an average of £1,775 in compensation following a paperwork error.


Northern Rock Asset Management (NRAM), the state-owned remnant of Northern Rock, will pay out £270 million in refunded interest after the bank failed to make mandatory disclosures in customer letters since 2008.
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