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UK finance body ‘watered down’ misselling compensation program, lawmakers say

By Fiona Maxwell ( December 14, 2021, 13:59 GMT | Insight) -- There is no reason why the UK's Financial Conduct Authority chose to amend a compensation scheme, resulting in a third of potential customers being barred from receiving redress over an interest-rate misselling scandal, an independent government review concluded today. Lawmakers have accused the regulator of watering down the program so fewer individuals are eligible for damages.The UK’s financial services regulator is accused by lawmakers of watering down a compensation scheme at the expense of misselling victims, after an independent review was published today....

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