UK watchdog warns banks over treatment of customers

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LONDON, Nov 3 (Reuters) – Banks must learn lessons from the COVID-19 pandemic when it comes to helping customers struggling with Britain’s cost of living crisis, the Financial Conduct Authority said on Thursday.

“The FCA has already told 32 firms to make changes to improve the way they treat customers and so far, seven of these firms have voluntarily agreed to pay 12 million pounds ($13.51 million) in compensation to nearly 60,000 customers,” the watchdog said in a statement.

($1 = 0.8885 pounds)

(Reporting by Huw Jones; editing by Jason Neely)

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