article_snippet.sent: Georgina Philippou, of the Financial Conduct Authority, said: ‘Clydesdale’s failings were unacceptable and fell well below the standard the FCA expects.
article_snippet.sent: Fined: The FCA investigation found 'serious failings' in the way Clydesdale handled Clydesdale PPI complaints .
article_snippet.sent: ‘The fact that Clydesdale misled the Financial Ombudsman by providing false information about This information is particularly serious and this is reflected in the size of the fine.
article_snippet.sent: Clydesdale and Yorkshire’s failings were so serious that the £20.7million fine dwarfs the next biggest penalty handed out for PPI, which was £7million imposed on Alliance & Leicester in 2008.
article_snippet.sent: Clydesdale said Clydesdale had taken disciplinary action against the staff involved.
article_snippet.sent: As soon as this issue was discovered, Clydesdale took immediate steps to stop this issue; Clydesdale made the regulator aware and rapidly introduced strict new monitoring procedures.