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Nationwide to issue refunds over PPI failures after UK's CMA intervenes

( October 18, 2019, 11:31 GMT | Official Statement) -- MLex Summary: UK lender Nationwide is to pay up to 2 million pounds (about $2.6 milllion) in refunds to 7,000 customers over failures in payment-protection insurance market-information requests. The action came after the Competition and Markets Authority issued legal directions to Nationwide. The UK competiton regulator said in a statement today that the building society had failed to send PPI reminders to some customers over a six-year period, and that it had also sent out inaccurate information in reminders.Statement follows. The directions and Nationwide's plan are attached....

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